Can Venezuela Meet Its 2023 Oil Production Targets? ...Middle East

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Can Venezuela Meet Its 2023 Oil Production Targets?
Q. Venezuela is planning on oil to finance 63 percent of its budget for 2023, a figure slightly higher than this year’s, Reuters reported Dec. 5. The stronger reliance on oil comes as the U.S. government reviews its sanctions on the South American country’s state-owned oil company, PDVSA, first imposed in 2019. The easing of sanctions would allow exports to the United States, boosting oil sales. Revenues from PDVSA are expected to bring in $9.34 billion to the government’s budget, up from this year’s $8.2 billion contribution.…

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