21 Hrs
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البلاد
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Trump's vow on Venezuelan oil faces lengthy pursuit
The article discusses the United States' agreement with Venezuela to develop heavy oil fields in the country, aimed at strengthening stable oil supplies and reducing gasoline prices in the United States. It indicates that the agreement will not add new barrels of oil to the market for several years due to challenges in extracting heavy oil and high investment costs. Additionally, current production has been declining, reaching approximately 1.2 million barrels per day from a peak of 3.5 million in 1998. Experts emphasize that the actual impact will be limited, with the oil produced from Venezuela primarily directed to the American market, while the ownership of the reservoirs remains with the Venezuelan government. Political and economic risks continue to persist.
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