Trump administration sets meetings with oil companies over Venezuela, source says

[BumRushDaShow]

3. The problem still exists

that the market is glutted at the moment due to previous productions increases much of last year, from OPEC and OPEC+, where they finally decided to hold doing any more. Spot WTI is sitting aound $58.65/bbl, which is barely enough for a "breakeven" price for many of these companies.



(from Mar. 2024)

And to try to repair some of the old abandoned wells in Venezuela, will be a hefty cost.