How the chaos in Venezuela will impact oil prices
New York (CNN Business)The diplomatic relationship between the United States and Venezuela is in shambles — and it hit a new low this week.
Despite soaring tensions between the Trump administration and the regime of Nicolas Maduro, the two nations still share a crucial link: oil.
The United States is Venezuela’s biggest and most important oil customer, accounting for 39% of the OPEC nation’s deliveries last year, according to ClipperData. And Venezuela was the fourth-biggest source of foreign oil that flowed into America last October.
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