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Venezuela Is Finally Beginning To Erase Its Oil Glut

OilPrice.com Tuesday, 5 November 2019
The glut of oil inventory that Venezuela has been nearly choking on in recent months appears to be finally draining, according to Reuters data, as the crisis-stricken country managed to send off 800,000 bpd of oil for a second month in a row. But Venezuela’s troubles are far from over. Its list of oil buyers have shrunk to about a handful of loyal takers who are unwilling to kowtow to US pressure in the form of sanctions. The list includes China, Russia, and Cuba for the most part, although India’s Reliance has recently resumed Venezuela…

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