New US sanctions against Venezuela’s national oil company Petroleos de Venezuela SA (PDVSA) could push the South American country’s crude oil production to a 700,000-900,000 b/d range for 2019, IHS Markit said in a Jan. 30 report. “It is uncertain how much of the 500,000–600,000 b/d of US imports will be absorbed by other buyers and at what price,” said Jim Burkhard, a vice-president in IHS Markit’s Washington office.

Source: News