Per EIA: "Further increases in Venezuela’s crude oil production will take longer. Much of Venezuela’s crude oil production capacity and infrastructure has suffered from prolonged lack of access to capital and regular maintenance The potential for further growth remains highly uncertain at this time because significant new investment would be required for additional production."
Team Biden is grasping at straws.
Read full EIA report: https://www.eia.gov/todayinenergy/detail.php?id=60762
Venezuela will have very little impact on oil supply
Venezuela will have very little impact on oil supply
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group