Venezuela May Have to Start Shutting Oil Wells Soon
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Venezuela is facing a potential shutdown of oil production due to a lack of storage space caused by U.S. sanctions, with reports indicating that storage facilities could reach capacity within 10 days. This situation is exacerbated by a significant amount of crude oil stranded at sea, leading to deeper discounts and contract renegotiations from buyers.
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المصدر الأصلي
Venezuela may be forced to start shutting in oil production as it runs out of storage space amid the U.S. tanker blockade, Bloomberg has reported, citing unnamed sources. According to the sources, the biggest oil storage hub and tankers at Venezuelan ports could fill up within 10 days, prompting production curbs. Earlier this week, Reuters reported that some 11 million barrels of Venezuelan crude were stuck at sea amid the U.S. escalation, prompting deeper discounts and demands from buyers for changes in the spot contracts, under which the oil…
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المقال الأصلي منشور بواسطة OilPrice.com في ديسمبر 18, 2025. التحليل والرؤى المقدمة من AnalystMarkets AI.