The oil deal between the US and Venezuela is not an ordinary figure 👀
We’re talking about 65 billion barrels distributed across 17 fields, with the US gaining the greatest control.
At current oil prices, the total value of the reserves exceeds $5 trillion, and the 55% share equals roughly 35.8 billion barrels.
But don’t be fooled by the number. Venezuelan oil is heavy and requires higher costs for production and refining.
Even when factoring in discounts and costs, the economic value of the US share could reach more than $1 trillion over the lifetime of the fields.
The deal is the largest energy agreement in history, and its impact on the oil market is worth following.
#TrumpSaysUSReachedVenezuelaOilDeal
#oil
#CryptoNews
We’re talking about 65 billion barrels distributed across 17 fields, with the US gaining the greatest control.
At current oil prices, the total value of the reserves exceeds $5 trillion, and the 55% share equals roughly 35.8 billion barrels.
But don’t be fooled by the number. Venezuelan oil is heavy and requires higher costs for production and refining.
Even when factoring in discounts and costs, the economic value of the US share could reach more than $1 trillion over the lifetime of the fields.
The deal is the largest energy agreement in history, and its impact on the oil market is worth following.
#TrumpSaysUSReachedVenezuelaOilDeal
#oil
#CryptoNews
