US forces have seized an oil tanker off the coast of Venezuela, in a major escalation of Donald Trump’s four-month pressure campaign against the South American country’s dictator, Nicolás Maduro.
US forces have seized an oil tanker off the coast of Venezuela, in a major escalation of Donald Trump’s four-month pressure campaign against the South American country’s dictator, Nicolás Maduro.
That makes sense. I was thinking Iran probably had oil too, but I don’t know enough about their imports/exports.
Iran has the second-largest reserves in the world. However production is limited by ageing infrastructure and sanctions. It is also the second-largest oil consumer, as the cheap cost has meant there has been no incentive for efficient use.