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Energy and Environment

Trump’s sanctions could knock out Venezuela oil production indefinitely

By John Siciliano
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Trump’s sanctions could knock out Venezuela oil production indefinitely

Venezuela will soon pass the point at which it will be unable to recover lost oil production if U.S. sanctions persist into next year, the federal government said on Wednesday.

The Energy Information Administration said that Venezuela, the sole OPEC member in the Western Hemisphere, has lost about 100,000 barrels a day in production since February due to Trump administration sanctions.

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Donald Trump Iran Nicolas Maduro Oil OPEC Sanctions Venezuela