Venezuelan oil riches will stay mostly theoretical
LONDON, Dec 12 (Reuters Breakingviews)
The U.S. seizure
of a sanctioned tanker has sharpened President Donald Trump's standoff
with Venezuela’s Nicolás Maduro. It does not, however, make the
country’s 300 billion barrels of theoretical oil reserves – the world’s
largest – any easier to turn into usable supply. Even if Washington’s
pressure campaign leads to tangible political change, oil investors have
little cause to overhaul their supply-demand assumptions.
![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" width="16" height="16" fill="%2331bad2" viewBox="0 0 16 16"%3E%3Cpath d="M8.982 1.566a1.13 1.13 0 0 0-1.96 0L.165 13.233c-.457.778.091 1.767.98 1.767h13.713c.889 0 1.438-.99.98-1.767L8.982 1.566zM8 5c.535 0 .954.462.9.995l-.35 3.507a.552.552 0 0 1-1.1 0L7.1 5.995A.905.905 0 0 1 8 5zm.002 6a1 1 0 1 1 0 2 1 1 0 0 1 0-2z"/%3E%3C/svg%3E)
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