U.S., VENEZUELA SANCTIONS
U.S. EIA - U.S. imports of Venezuelan crude oil have decreased in recent years as production in Venezuela declined (Figure 1). Recently announced U.S. sanctions directed at Venezuela's energy sector and state oil company, Petróleos de Venezuela, S.A. (PDVSA), will essentially eliminate U.S. imports of Venezuelan crude oil as the full effects of the sanctions emerge. However, the U.S. Energy Information Administration (EIA) does not anticipate any significant decrease in U.S. refinery runs as a result of these sanctions. U.S. imports of Venezuelan crude oil have been falling for several…
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