The US Treasury Department said Wednesday it has sanctioned Cubametales, Cuba’s state-run oil import and export company, for continuing to import crude and other products from Venezuela in exchange for helping the Maduro regime with defense and security. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At the same time, Treasury removed Italian shipping company PB Tankers and unblocked its previously sanctioned vessels after the company proved it was not facilitating Venezuelan oil trades. S&P Global Platts Analytics expects Venezuelan production to average 790,000 b/d in the third quarter, slipping to 700,000 b/d in Q4. Venezuelan oil output averaged 720,000 b/d in May, down from 1.6 million b/d in January 2018, according to the latest […]