oil production

Venezuela’s oil minister, Paula Henao, spoke to Venezuelan state television from Houston, Texas on Tuesday night to announce the investments.

The state isn’t seeing a boom from the energy supply crunch. That limits the uptick in tax revenue that comes from higher prices, and makes employment unlikely to see a big boost.

The country has been chafing under the cartel’s crude oil production limits.

According to a new Dallas Fed survey, half of oil executives in Texas and the surrounding states say they’re not planning to build any more wells.

The annual CERAWeek conference features speakers like U.S. Energy Secretary Chris Wright and executives from oil and gas companies.

Higher oil prices typically mean more cash in hand for oil producers, including those in the U.S. But increasing production is a slow and expensive process.

The Trump administration declared that it would control Venezuelan oil production indefinitely. But what could that actually mean for the U.S. and for Venezuela?

Venezuela’s current oil production infrastructure “has been held together by string and gum,” said Fernando Valle at Hedgeye Risk Management.

Trend lines indicate both are headed downard.

The cartel is trying to undercut the U.S. and other nonmember exporters.