The United States has been carefully allowing some companies to buy and sell Venezuelan oil, even though it has rules against doing business with Venezuela's government. This is because of disagreements about Venezuela's elections and government.
- The US gave licenses to companies to export Venezuelan oil, mostly to China.
- A big US company, Chevron, had a license to export oil, but the US took it away.
- Other countries' companies, like those from Spain, Italy, and France, were still allowed to export Venezuelan oil.
| Country | Action | Amount (approximate) |
|---|---|---|
| US | Took away Chevron's license | - |
| Venezuela | Oil exports reduced | 450,000 barrels/day (before license removal) |
| China | Main buyer of Venezuelan oil | - |
This change means less Venezuelan oil might be exported, affecting global oil prices.
