Trump's Venezuela Oil Plan Sparks Concerns for U.S. Producers Amid Market Shifts
14 hours agoBusiness
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Trump's Venezuela Oil Plan Sparks Concerns for U.S. Producers Amid Market Shifts

President Donald Trump's initiative to bring Venezuelan crude oil into the U.S. market, potentially 30-50 million barrels, is causing concern among domestic U.S. producers. Venezuela holds vast oil reserves and relies on U.S. refining capacity. This move could impact U.S. production, which has reached record levels but faces slowing investment and potential output easing. The influx of discounted Venezuelan oil might also cap benchmark crude prices, affecting U.S. producers already navigating market challenges.

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