As tensions with OPEC+ escalate, the US is apparently ready to ease sanctions on Venezuela to allow Chevron to pump oil there.
The White House is considering loosening some of the sanctions against Venezuela so that Chevron can increase oil production there.
In a report published on Wednesday, The Wall Street Journal cited sources familiar with the concept.
The announcement follows OPEC+'s defiance of US requests for its crude producers to maintain output, which sparked a vehement reaction from the US.
Administration of Biden. Chevron and other US oil corporations would be permitted to operate in the region if the proposed accord is implemented.
Venezuela once more, according to the WSJ. On Wednesday, OPEC and its allies decided to reduce their oil output goals by 2 million barrels.
Despite a backroom campaign by the Biden administration to convince them otherwise, a day from November.
Analysts described the choice as a political setback for the administration. The White House is worried the budget cuts may result in
Prior to the midterm elections, petrol costs for American vehicles may increase, which may help Russia's ailing economy.
According to a US official, the administration was "having a spasm and panicking" as it referred to the OPEC+ decision as "shortsighted," according to CNN.