With Donald Trump imposing sanctions on Venezuela, which bans all oil ships from entering and leaving the country, crude oil prices on the world market rose by $2.4%, foreign media reported.
The disruption of Venezuela’s supply chain to the world market has led to a rise in oil prices, with the price of Brent crude oil on the world market increasing by 1.41 to 60.33 US dollars per barrel and the price of Texas crude oil increasing by 1.42 to 56.69 US dollars per barrel, foreign media reports. Venezuela, which ranked 22nd among the countries exporting crude oil to the world market in 2022, has exported 73% of its oil production. It is also a founding member of the Organization of the Petroleum Exporting Countries (OPEC), which was formed in 1960.

Cyber World Press-USA