COVID-19 Upends Venezuela’s Already-Struggling Oil Sector

Venezuela is looking to shut in some of its still-operational oil wells as oil buyers prove increasingly hard to find at a time when oil demand worldwide is plunging and domestic inventories near capacity, people familiar with the situation in Venezuela’s oil sector tell Bloomberg.   Oil production in the Latin American country has slumped over the past three years due to the dire economic situation and the increasing U.S. sanctions on its exports and companies selling Venezuela’s oil. Earlier this year, Venezuela managed…