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2025-12-18 06:36:56
[Venezuela's Oil Storage Space to Reach Limits, Potentially Facing Production Cuts] 1. According to sources, the loading capacity of oil tankers waiting at Venezuela's main crude oil storage facilities and terminals is rapidly increasing, and is expected to reach its maximum storage capacity limit in about 10 days. Industry insiders point out that the country's increasingly strained oil storage capacity is directly related to the recent seizure of a Venezuelan oil tanker and the US plan to further blockade other sanctioned vessels. 2. Local sources indicate that if storage space is exhausted, Venezuela's state-owned oil company, PDVSA, with a daily production of nearly 1 million barrels, may have to shut down some oil wells to cope with the pressure of unsold inventory.
