Venezuela Desperate For China To Buy More Oil
from article:
China, Venezuela’s largest creditor by far, is still collecting loan repayments from Venezuela in oil. But even that stream is thinning. Production at Sinovensa—once the crown jewel joint venture between CNPC and PDVSA—has dropped to 103,000 bpd, down from 160,000 in 2015.
Now Trump’s team is openly threatening “consequences” for any nation that continues buying Venezuelan crude, signaling secondary sanctions could hit China next. For an economy already teetering, the loss of its only significant oil customer could be catastrophic. Venezuela’s central bank reserves are drying up, the bolívar is collapsing again, and inflation is knocking.
Rodríguez called her China tour “confidential” and “extremely happy.” Some instead call it a Hail Mary.
Source: lookskAIwatcher
2 Comments
The US seems to want to decouple from China. If they’re going to do that anyway, why should China care what the US thinks? They might as well just buy the oil from Venezuela.
China is getting cheap oil from all sanctioned countries (Iran, Russia and now Venezuela).