Venezuela's Oil Output and US Sanctions Relief
Venezuela documented an 18% increase in oil output in Q1 of 2024 due to US sanctions relief, but the regime has a history of mismanagement. The Biden administration may not renew the relief as Maduro failed to fulfill promises of free elections.
Key Points
- 18% increase in oil output in Q1 of 2024
- US sanctions relief aiding Venezuela's oil industry
- Concerns over Maduro's lack of democratic progress
Pros
- Increase in oil output for Venezuela
Cons
- Regime mismanagement of Venezuela's oil industry
- Maduro's failure to fulfill promises of free elections