DOE Announces Plan to Expand Venezuelan Oil Production

DOE announced that the U.S. has “begun marketing Venezuelan crude oil in the global marketplace for the benefit of the United States, Venezuela, and our allies,” and claimed that the federal government has “engaged the world’s leading commodity marketers and key banks to execute and provide financial support for these crude oil and crude products sales.” DOE also announced that U.S. diluent (light crude oil) will “flow into Venezuela” to mix, upgrade, and optimize production and transport of Venezuela’s high-viscosity crude oil.