Venezuela’s crude oil exports fell in July, Refinitiv Eikon data showed on Tuesday, as oil markets are on the prowl for additional oil supplies to ease the tight market. Venezuela’s crude oil industry has been suffering for years due to a lack of maintenance and investment, in-country chaos, and U.S. sanctions. In July, power outages disrupted the state-run oil company’s operations, dragging the country’s oil exports down by 27% from June levels to just 460,323 barrels per day of crude and refined products, according to Reuters. That’s a 38% drop from July 2021 levels. According to OPEC’s latest MOMR, Venezuela’s crude production fell to 706,000 barrels per day in June, according to secondary sources, with only three rigs in operation, compared to the 25 rigs in 2019. Venezuela’s troubles don’t stop with power outages. Venezuela’s PDVSA, which is operating under a crude oil export ban, has already been struggling […]