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🇺🇸🛢🇻🇪 The U.S. announced the “largest oil deal in history”: Washington and Caracas signed an agreement for 100 years covering 17 oilfields with reserves of about 65 billion barrels. Under the terms of the partnership, the U.S. will receive 55% of production and the right to purchase oil at cost (including feedstock to replenish the U.S. Strategic Petroleum Reserve SPR), in return for attracting up to $100 billion in private investment into the modernization of Venezuela’s worn-out energy sector.
The global oil market reacted to the news with a decline, but without sharp collapses in prices. Brent futures settled around $88 per barrel
$BTC
$TRUMP
🇺🇸🛢🇻🇪 The U.S. announced the “largest oil deal in history”: Washington and Caracas signed an agreement for 100 years covering 17 oilfields with reserves of about 65 billion barrels. Under the terms of the partnership, the U.S. will receive 55% of production and the right to purchase oil at cost (including feedstock to replenish the U.S. Strategic Petroleum Reserve SPR), in return for attracting up to $100 billion in private investment into the modernization of Venezuela’s worn-out energy sector.
The global oil market reacted to the news with a decline, but without sharp collapses in prices. Brent futures settled around $88 per barrel
