Chevron’s Authorization To Extract Oil Will Not Boost Venezuela’s Production ...Middle East

        After Russia’s president Vladimir Putin launched the invasion of Ukraine, the U.S. along with many of Washington’s allies banned imports of Russian crude oil. This caused energy prices to soar seeing the international Brent price rise to over $129 per barrel during March 2022, its highest level since 2008. Spiraling domestic gasoline prices saw President Joe Biden search for alternate supplies of oil. The White House reopened diplomatic relations with Venezuela which had been suspended since January 2019…

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