The glut of oil inventory that Venezuela has been nearly choking on in recent months appears to be finally draining, according to Reuters data, as the crisis-stricken country managed to send off 800,000 bpd of oil for a second month in a row. But Venezuela’s troubles are far from over. Its list of oil buyers have shrunk to about a handful of loyal takers who are unwilling to kowtow to US pressure in the form of sanctions. The list includes China, Russia, and Cuba for the most part, although India’s Reliance has recently resumed Venezuela oil imports as well, in a product swap that Reliance says is on the up-and-up. For now, it seems, this has been enough to lift the Latin America’s oil exports to 812,775 bpd, and enough to drain some of its excess inventory that have filled its storage to the brim and caused a blending […]