Trump said he may not let Venezuela export oil, petroleum products, via firms like Chevron

Trump said he may not let Venezuela export oil and petroleum products via companies like Chevron

• “We’re looking at that now”

Less oil (like cutting it off from Venezuela) would, at the margin, support then price. However, there are a couple of things to keep in mind on this.

1. If Trump threatens Venezualan exports like this the response from Maduro could well be an offer to gladly accept back illegal immigrants from the US. That might appeal to Trumpenough that he doesn’t meddle with Venezualan experts.

2. Alternatively, and unlucky for Venezuela, Trump may have other sources of oil lined up, perhaps more from Iran if he can reach agreement on nukes with them, for example.

Let me know your thoughts in the comments!

Venezuela President Maduro

This article was written by Eamonn Sheridan at www.forexlive.com.