Brent crude prices rise 1% amid Venezuela oil export concerns

Falling production from Venezuela has contributed to a rally in global oil price Brent to nearly $80 a barrel. State firm PDVSA is considering declaring force majeure on some exports, three sources told Reuters, amid plummeting output from its oil fields and tanker bottlenecks at ports.

Brent crude prices rise 1% amid Venezuela oil
Brent crude dropped to its lowest since May 8 on Tuesday. Image source: Reuters

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