Data in a U.S. report suggests that as Venezuela depends on oil revenue, and it’s a top oil exporter to the United States, pressure could cuts both ways. The U.S. Energy Information Administration reported Venezuelan oil production dropped from 2.4 million barrels per day in 2015 to an average of 1.6 million bpd in January. “A combination of relatively low global crude oil prices and mismanagement of Venezuela’s oil industry has led to the accelerated decline in production,” EIA’s report read. Washington already imposed sanctions on the Venezuelan government and military officials in December in response to allegations of corruption and repression under President Nicolas Maduro ‘s administration. Those sanctions, coupled with high debt, are limiting financing for the state oil company, […]