Venezuela’s $500 Million of Crude Finds No Takers

Venezuela is running out of storage space to store $500 million worth of crude oil following new U.S. sanctions in January.
Oil ventures owned by PDVSA with Rosneft, Chevron, Total SA and Equinor ASA have reduced their prices due to lack of storage.
Shipments to America, once Venezuela’s largest customer, has dried up and facing to find buyers outside of countries such as India and China over loan payments.
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