The United States and Venezuela are beginning a rapprochement around oil

Against the backdrop of rising oil prices, under socialist and US sanctions, Nicolas Maduro’s Joe Biden and Venezuela have begun the beginning of a good relationship. This Saturday, March 5, a group of senior U.S. officials made a prudent trip to Caracas. News published by the newspaper The New York TimesOn Monday, March 7, the White House spokesman and Mr. Confirmed by Maduro. “Of course, the purpose of this visit is to discuss a number of topics, including energy conservation.”, Said Ms.^Me Jen Saki in the press.

Interested in isolating Russia, severing it from its allies, and controlling the price of a barrel of oil, the government of Joe Biden plans to partially lift US sanctions on Venezuela and affect its crude sales from 2019 onwards. This is what the American press says.

No official details have been released on the outcome of the talks in Caracas. But they “Continue”, Maduro confirmed. M^Me Psaki said six former executives of CIDCO, a subsidiary of Petroleum de Venezuela (PDVSA) in the United States, have been jailed in Venezuela for fraud since 2020. Five of the six detainees are U.S. citizens.

The world’s largest crude oil reserve

“The threat of an explosion in oil prices played a key role in the White House and Foreign Ministry seeking to have direct contact with the government of Nicolas Maduro. Explain The world Legal expert Mariano de Alba is a senior adviser to the International Crisis Group organization. For his part, if Nicolas Maduro wants to be re-elected in 2024, he must make lasting improvements in the country’s economic situation. He may partially lift sanctions on Venezuelan oil against the release of American prisoners. ⁇

Venezuela, which has the world’s largest crude oil reserves, produced more than 3 million barrels a day in 1999. Its production has dropped to less than 800,000 barrels a day, according to the Organization of the Petroleum Exporting Countries (OPEC). “This figure may be underestimated because, due to US sanctions, the country secretly exports a portion of its production,” he said. Recalled Jose Antonio Gill, a researcher at the Tatanalysis Institute. Chavismo’s twenty years – and three sanctions – have destroyed the oil industry and the state – owned PDVSA. “But there are still wells, facilities and capabilitiesS, continues Mr. Kill. Venezuela could double its production in a year and reach 1.5 million barrels a day. ⁇ On Monday evening, Nicolas Maduro announced that PDVSA was ready to increase its production to 3 million barrels per day. “For the stability of the world”.

You should read 43% of this article. The following are for subscribers only.