Venezuela: US sanctions threaten heavy crude supplies

US sanctions against Venezuela's national oil company risk raising crude prices owing to a drop in exports of so-called heavy crude on which the world depends. Washington's move against PDVSA on Monday is aimed at crippling embattled President Nicolas Maduro's power base. Although crude output by OPEC member Venezuela has slumped in recent years, its heavy oil is sought after by US refineries who mix it with lighter crudes to make petrol.

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