Trump's Venezuela Play Is All About Energy And China

Kaneva wrote early this month. "President Trump has indicated that Chinese buyers may only continue purchasing Venezuelan oil at market-based prices, effectively eliminating the deep discounts and opaque arrangements that previously facilitated these flows."Venezuela's position is critical to this scenario, as the nation holds 303 billion barrels of proven crude oil reserves — nearly 20% of the global total. This heavy crude is specifically suited for the U.S. Gulf Coast refinery infrastructure, which was d ...