Highlights Platts Analytics expects output of 500,000 b/d through September China tax, Biden sanctions could sway Venezuelan outlook The Biden administration has given Chevron and four other US oil service companies until Dec.1 to wind down operations in Venezuela. The June 1 action by the Treasury Department extends a previous six-month waiver that was set to expire June 3. It allows Chevron, Halliburton, Schlumberger, Baker Hughes and Weatherford International to continue certain limited work with Venezuela’s state PDVSA outside of US sanctions. It was the latest in a string of extensions since a waiver was initially issued under the Trump administration in January 2019. The waiver, known as General License 8, had been extended on the argument that the presence of US companies would be necessary to prevent the collapse of Venezuela’s oil sector and ease an […]