The market impact and geopolitical significance of the Venezuela tanker blockade are quite different
The Venezuelan-flagged Fiorella oil tanker docked in front of the Petroleos de Venezuela SA (PDVSA) Bajo Grande Refinery at the Paraguana Refinery Complex on Lake Maracaibo in Maracaibo, Zulia state, Venezuela, on Wednesday, Nov. 15, 2023. A decision by the US on Oct. 18 to ease sanctions in exchange for greater political freedom in Venezuela, has opened the doors for dealmaking and increased production that will enable the Latin American country's crude to reach global markets. Photographer: Gaby Oraa/Bloomberg
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