Crude prices lower as Maduro overthrow casts uncertainty over Venezuela
CNBC••general
Key Points:
- Crude oil prices declined slightly on Sunday amid uncertainty following the Trump administration's overthrow of Venezuelan President Nicolas Maduro, with U.S. crude falling 0.54% to $57.01 per barrel and Brent down 0.36% to $60.53 per barrel.
- President Trump emphasized that U.S. investment in Venezuela's oil sector is a primary goal of the regime change, aiming to repair the country's damaged oil infrastructure while maintaining the existing U.S. embargo on Venezuelan oil.
- Venezuela holds the world's largest proven crude reserves but its production has plunged from 3.5 million barrels per day in the late 1990s to about 800,000 bpd currently, with Chevron as the only major
