Oil rises as reality dawns over Venezuela's export crisis | Reuters:
"Oil rose on Thursday on concerns about a plunge in exports from Venezuela, although surging U.S. production kept gains in check.
Brent crude futures LCOc1 were up 23 cents at $75.59 a barrel by 0900 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 was 14 cents higher at $64.87 a barrel.
Venezuela, which faces the threat of U.S. sanctions and is in the midst of an economic crisis, is nearly a month behind delivering crude to customers from its main oil export terminals, according to shipping data, and chronic delays and production declines could breach state-run PDVSA’s supply contracts if backlogs are not cleared soon.
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