Heavy Oil Investing News » Venezuela threatened to cut oil supplies to US

Venezuela threatened to cut oil supplies to US

July 15, 2008 @ 5:30 am In Heavy Oil Market News

Venezuelan President Chavez threatened to cut oil supply to US, if US oil gian Exxon makes another successful attempt to freeze overseas financial accounts of Petroleos de Venezuela SA.

Chavez was quoted as saying:

If they freeze us, there's no more oil for the United States, and the price of crude will go to $300 a barrel

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