Sputnik: No Place to Hoard! Venezuela Reportedly Selling Oil for Less Than $5 Per Barrel
In 2018, the US introduced economic sanctions against Caracas in attempt to oust President Nicolas Maduro. This development and global price-related factors had a dramatic effect on the country’s oil industry, which now has stored an excessive amount and is approaching capacity.
Venezuela has begun to sell oil for less than $5 per barrel, El Nuevo Herald revealed, citing experts in the industry familiar with the development. Meanwhile, the price of Brent crude oil was set at approximately $25 per barrel as of 27 March.
According to the experts cited by the outlet, Venezuela has been hard hit by US sanctions, the ongoing coronavirus pandemic and economic disagreements between Russia and its OPEC+ partners. Russ Dallen, managing partner of investment bank Caracas Capital Markets, told the newspaper that “nobody wants to touch” Venezuelan oil to avoid being sanctioned themselves by the Trump administration.
Read more ....
WNU Editor: Even at $5/barrel there are no takers. U.S. sanctions and a global glut in oil has crippled the Venezuelan government's only major source of income.
When will the tyrant Maduro be targeted and executed? The world would be a better place.
ReplyDeleteI'M NOW FULFILL FINANCIALLY BECAUSE OF THE LOAN I GOT FROM LFDS .I would like to bring this to the notice of the public about how i came in contact with Mr Benjamin after i lost my job and being denied loan by my bank and other financial institution due to my credit score. I could not pay my children's fees. I was behind on bills, about to be thrown out of the house due to my inability to pay my rent, It was during this period my kids were taken from me by foster care. Then i set out to seek for funds online where i lost $3,670 that i borrowed from friends which i was rip off by two online loan companies. Until i read about:loan online (247officedept@gmail.com) somewhere on the internet, Still wasn't convince because of what i have been through until a relative of mine who is a clergy also told me about the ongoing loan scheme at a very low interest rate of 1.9%% and lovely repayment terms without penalty for default of payment. I have no choice than to also contact them which i did through text +1-989-394-3740 and Mr Benjamin responded back to me That day was the I'M best and greatest day of my life which can never be forgotten when i receive a credit alert of $400,000.00 Usd loan amount i applied for. I utilized the loan effectively to pay up my debts and to start up a business and today i and my kids are so happy and fulfill. You can as well contact them through email: (247officedept@gmail.com) WhatsApptext helpline: +1-989-394-3740 Why am i doing this? I am doing this to save as many that are in need of a loan not to be victim of scams on the internet. Thanks and God bless you all, I'm Oleksander Artem from Horizon Park BC , Ukrain.
ReplyDelete