Venezuela’s Oil Major Sees Oil At $35 Through 2021

Venezuela’s state oil company has made a pessimistic estimate for next year’s oil prices, expecting to make just $35 per barrel for the crude it exports, Reuters has reported. This compares with $60 per barrel estimated for this year. U.S. sanctions on Caracas have made it hard for PDVSA to sell its oil abroad, so it has been forced to offer it at steep discounts. The latest oil price crisis has definitely not helped, either, slashing prices further. Since the start of the year, PDVSA’s most popular Merey blend, for example, has…