Oil made Venezuela rich. For decades it helped fund a stable democracy with the highest living standards in Latin America. The country was pumping 3.4m barrels a day when Hugo Chávez, a left-wing populist, was elected in 1998 on a promise to redirect petrodollars to the poor. Instead, under his corrupt, incompetent regime, the flows…
Published on: Oct 23, 2025 05:09 pm IST The European Union on Thursday announced new economic sanctions on Russia, joining the US. The European Union on Thursday announced new economic sanctions on Russia, joining the US, which had imposed fresh penalties on the Russian oil industry the day before. Ukraine’s President Volodymyr Zelensky talks to…
(Bloomberg) — US sanctions on Russia’s energy giants are sending shockwaves deep into the heart of China’s oil industry, where both state and private refiners face heightened pressure to keep up supplies while steering clear of penalties. As much as 20% of China’s crude imports — about 2 million barrels a day in the first…