IEA's Fmr. Oil Head: China Doesn't Need Venezuelan Oil
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Neil Atkinson, a former IEA oil markets chief, highlights the significant decline of Venezuela's oil industry. In a discussion on 'The Close,' he asserts that China's engagement with Venezuela is primarily motivated by political considerations rather than genuine oil demand. This perspective sheds light on the complexities of international energy relations.
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Venezuela has been struggling with a crumbling oil infrastructure and economic instability, which has led to a significant drop in its oil production. Meanwhile, China has been looking to strengthen its influence in Latin America, which complicates the motivations behind its dealings with countries like Venezuela.
This article reflects the opinions of the author and does not necessarily represent the views of Bloomberg or its affiliates.
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