Bloomberg learned about the shutdown of oil wells in Venezuela due to the US blockade

The Venezuelan state oil company Petroleos de Venezuela has begun to close oil wells in the Orinoco belt, where the world's largest oil reserves are concentrated, due to the US blockade. This was reported by Bloomberg on December 30.

According to reports, the well shutdown started on December 28. The company plans to reduce production in the region by at least 25% to about 500,000 barrels per day. This is equivalent to a reduction of about 15% of the country's total oil production.

"Decommissioning of wells is considered as a last resort due to operational difficulties and high costs of re-launching," the article added.

The power of the environment: Trump is increasing economic pressure on Caracas

Blockade imposed on Venezuelan oil tankers

On December 18, President of the United States Donald Trump said that the United States wants to return the oil rights in Venezuela, which were allegedly taken away from Washington. He also said that no one can circumvent the oil blockade of Venezuela, "except those who have the right to do so."

Later, on December 19, Trump announced that the United States plans to continue seizing Venezuelan tankers. It was noted that Trump also confirmed the possibility of a military conflict and additional seizure of oil tankers.

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