Rebuilding Venezuelan Oil Fields Won’t Be Easy

“Nobody knows exactly how much it will cost to rebuild Venezuela’s broken-down oilfields, but everyone agrees it’s a lot — and there’s no guarantee that U.S. companies will be chomping at the bit,” Axios reports.

“Venezuela’s crude output has dwindled to well under one million barrels per day after years of underinvestment, mismanagement, and sanctions — a far cry from around 3.5 mbd in the late 1990s.”