Venezuela to reduce oil production amid US export embargo pressures
Yahoo Finance·2026-01-05 11:09
Venezuela has reportedly started reducing oil production as it grapples with the consequences of a US export embargo that has halted shipments, the country's principal revenue source. The state-owned oil company, PDVSA, initiated these cuts due to limited storage capacity amidst a blockade that has disrupted exports, reported Reuters. The situation places additional strain on Venezuela's interim government, which is attempting to maintain control following the capture of President Nicolas Maduro and his ...