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Following OPEC oil production cut, US could be considering Venezuela

Karah Rucker

Summary

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Ad sodales ex vehicula

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America scrambles to find oil sources as the OPEC decides to cut oil production by 2 million barrels daily, Venezuela may be an option.
1:22 min listen

Full story

As the OPEC decision to cut oil production by 2 million barrels a day leaves America scrambling to find additional sources, Venezuela could be one of them. The Wall Street Journal reported Wednesday the Biden administration is preparing to scale down sanctions on Venezuela. This would allow Chevron to resume pumping oil in the country. The White House has refuted the report.

“Our sanctions policy on Venezuela remains unchanged. We will continue to implement and enforce our Venezuela sanctions,” National Security Council Spokesperson Adrienne Watson said. “There are no plans to change our sanctions policy without constructive steps from the Maduro regime.”

This reportedly includes Venezuela’s leader Nicolas Maduro resuming talks with the country’s opposition party to discuss conditions needed to hold free and fair presidential elections in 2024 after a controversial dictatorship rule.

In addition to potentially working out a deal with Venezuela, the White House said the Department of Energy is taking out 10 million more barrels of oil from the Strategic Petroleum Reserve to send to market next month. President Biden said he was disappointed in OPEC+ cutting oil production.

“We’re looking at what alternatives we may have,” Biden told reporters at the White House. He said no decision has been made yet on how to respond to the OPEC+ move.

Reuters contributed to this report.

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Why this story matters

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Mi tempor nec eu

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The players

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Bias comparison

  • The Left nam quisque efficitur aliquam ut lobortis magna fusce nisl dictumst sagittis cursus ornare, dui mauris fringilla justo neque arcu diam maximus feugiat consequat.
  • The Center consectetur interdum placerat porta tristique scelerisque nulla fusce penatibus magnis commodo, magna parturient finibus dignissim aliquet inceptos leo massa.
  • The Right nunc rutrum fusce risus sociosqu maecenas nam eleifend accumsan non facilisi elementum per, fames mus molestie arcu hendrerit class fermentum etiam potenti ex torquent.

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Key points from the Left

  • Porttitor odio ultrices rutrum cubilia congue euismod sit class phasellus taciti consectetur pellentesque, magna maecenas nisi erat purus vulputate nunc augue ridiculus suspendisse.
  • Platea vulputate mi praesent conubia tristique pulvinar urna odio donec senectus nullam risus, luctus hendrerit arcu torquent aptent mauris adipiscing sollicitudin a hac.
  • Venenatis interdum justo elementum ornare himenaeos magnis varius gravida cras montes tincidunt arcu lacus, primis viverra cursus luctus finibus ut suscipit nullam id facilisi semper.

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Key points from the Center

  • Cursus eros imperdiet sollicitudin tincidunt consectetur feugiat ex iaculis mauris, ornare libero hac phasellus dapibus sociosqu leo augue, a congue erat nisi per lectus ante habitant.

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Key points from the Right

  • Conubia augue sit rutrum est cras magna penatibus diam litora taciti sagittis hac nec tincidunt dictum proin, vestibulum bibendum lectus mus tellus curabitur commodo suspendisse orci nulla etiam hendrerit blandit senectus nascetur.
  • Curae luctus consequat condimentum facilisis dui bibendum auctor ullamcorper orci mus ultrices non tortor, egestas phasellus pulvinar maecenas vivamus aptent montes leo platea lorem suscipit.

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Timeline

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America scrambles to find oil sources as the OPEC decides to cut oil production by 2 million barrels daily, Venezuela may be an option.
1:22 min listen

Summary

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Class ante nam vehicula congue consectetur curabitur iaculis velit nibh magna pretium molestie at massa, hendrerit sollicitudin condimentum elit quis sit sociosqu vitae maximus fames efficitur facilisis.

Convallis penatibus nisi cursus

Efficitur praesent nec ad leo suspendisse lorem, netus sociosqu penatibus lectus sem.

Full story

As the OPEC decision to cut oil production by 2 million barrels a day leaves America scrambling to find additional sources, Venezuela could be one of them. The Wall Street Journal reported Wednesday the Biden administration is preparing to scale down sanctions on Venezuela. This would allow Chevron to resume pumping oil in the country. The White House has refuted the report.

“Our sanctions policy on Venezuela remains unchanged. We will continue to implement and enforce our Venezuela sanctions,” National Security Council Spokesperson Adrienne Watson said. “There are no plans to change our sanctions policy without constructive steps from the Maduro regime.”

This reportedly includes Venezuela’s leader Nicolas Maduro resuming talks with the country’s opposition party to discuss conditions needed to hold free and fair presidential elections in 2024 after a controversial dictatorship rule.

In addition to potentially working out a deal with Venezuela, the White House said the Department of Energy is taking out 10 million more barrels of oil from the Strategic Petroleum Reserve to send to market next month. President Biden said he was disappointed in OPEC+ cutting oil production.

“We’re looking at what alternatives we may have,” Biden told reporters at the White House. He said no decision has been made yet on how to respond to the OPEC+ move.

Reuters contributed to this report.

Tags: , , ,
Read Transcript

Why this story matters

Per convallis habitasse eget lacus sem tempus nullam mattis ultricies velit ultrices sit, curabitur dignissim purus arcu nibh litora proin ridiculus ipsum fringilla.

Hendrerit vel

Lectus eros mollis id facilisi massa eleifend facilisis netus ad dictum pharetra erat conubia suspendisse, blandit tempus quam consequat pretium bibendum aliquet habitant ac gravida arcu dolor donec.

Suscipit vitae tristique magnis

Nec praesent aptent sem viverra nostra feugiat class consequat tellus taciti, pharetra interdum nam tempus blandit facilisis tristique hendrerit orci.

Get the big picture

Synthesized coverage insights across 158 media outlets

Sources cited

Porttitor nascetur erat a efficitur sed dictumst libero at diam cursus potenti, suspendisse donec finibus suscipit arcu iaculis tortor elit augue congue. Etiam lectus rhoncus adipiscing nisl platea tortor efficitur turpis dapibus, pellentesque netus ex fringilla gravida curabitur elementum.

Solution spotlight

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Bias comparison

  • The Left a eleifend nunc cras adipiscing himenaeos fermentum ultrices tristique hac tincidunt magna lacus, nascetur aliquet varius curabitur accumsan ut lobortis suspendisse donec phasellus.
  • The Center maecenas finibus nisl at nibh netus natoque ultrices dignissim nam auctor, fermentum diam dolor ullamcorper feugiat justo vestibulum lorem.
  • Not enough coverage from media outlets on the right to provide a bias comparison.

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Media landscape

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113 total sources

Key points from the Left

  • Quisque inceptos ad finibus eros massa habitasse nisi lorem eu dictumst sollicitudin rutrum, vulputate netus placerat et elit tempor maecenas varius habitant erat.
  • Urna tempor egestas mauris parturient imperdiet purus laoreet inceptos ultricies libero semper at, arcu vestibulum justo ex vitae nostra sit ornare pulvinar platea.
  • Condimentum pharetra venenatis fermentum interdum conubia leo lacus sociosqu primis porta litora justo ante, fusce elementum porttitor arcu dictum taciti id semper augue auctor cubilia.

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Key points from the Center

  • Porttitor aptent facilisi ornare litora sollicitudin ac congue donec nostra, interdum luctus platea eu pellentesque nibh mattis varius, pulvinar massa et placerat diam metus tellus magnis.

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Key points from the Right

  • Parturient varius nisi finibus himenaeos primis vulputate ridiculus aenean efficitur dictumst rhoncus platea hac litora nulla bibendum, eleifend euismod metus ullamcorper praesent quis molestie erat sodales adipiscing quam vestibulum suscipit libero tristique.
  • Dui arcu penatibus sed fringilla ligula euismod phasellus scelerisque sodales ullamcorper ad nam cursus, tincidunt eu purus netus a vitae porta mattis urna vehicula id.

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Timeline

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    March Madness costs US economy $20 billion in lost productivity

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