Venezuela’s output now less than 1M barrels/day due to US sanctions and blackouts
Flag of Venezuela
LONDON, (Reuters) – Venezuela’s oil output sank to a new long-term low last month due to U.S. sanctions and blackouts, the country told OPEC, deepening the impact of a global production curb and further tightening supplies.
Supply cuts by OPEC and partners led by Russia, plus involuntary reductions in Venezuela and Iran, have helped drive a 32 percent rally in crude prices this year, prompting pressure from U.S. President Donald Trump for the group to ease its market-supporting efforts.
In a monthly report released on Wednesday, the Organization of the Petroleum Exporting Countries said Venezuela told the group that it pumped 960,000 barrels per day (bpd) in March, a drop of almost 500,000 bpd from February. Continue reading
Is the U.S. Prepared to Accept a Defeat in Venezuela? – By Marco Teruggi
Is the U.S. Prepared to Accept a Defeat in Venezuela?
By Marco Teruggi – Pagina 12 – April 12, 2019
The attack should have been short since the Maduro administration was not strong enough to resist. This was the conviction of the United States as they carried out a strategy to overthrow him: they built a President 2.0 Juan Guaido; they gave him a fictionalized government, international recognition, a collective narrative among mass media companies, accelerated economic sanctions at different levels. Overlapping these variables, different results were expected to be achieved on their path of getting a forced negotiation or the toppling of the government.
Events did not take the planned course. First and most important, the breaking of the Bolivarian National Armed Force (FANB): a crucial element that should have happened but did not. A series of tactics were implemented for it, from internal conspiracy with the support of a lot of dollars, visas and guarantees, or the strategy of a latent threat of a possible U.S. intervention. A combination of bluff – an unloaded weapon pointed at your head – with built up dates to try to achieve a rupture, such as on February 23rd. Continue reading →
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