November 12, 2019

Enough global oil supplies to avoid possible disruptions in Caribbean – U.S.

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From Reuters

, May 16 (Reuters) – There is enough oil supply in the global market to make up for potential fuel disruptions from U.S. oil producer ConocoPhillips’ legal actions against Venezuelan state oil company , a spokesman said on Wednesday.

“The U.S. Department of State remains in contact with our partners in the Caribbean to reduce the risk of supply disruptions,” , spokesman for the Bureau of Energy Resources at the department said. “There is sufficient oil supply in the global market that countries can access.”

The U.S. company said on Tuesday it was far from collecting the full value of a $2 billion arbitration award against PDVSA, after Conoco won curt orders allowing it to begin seizing PDVSA assets.

Reporting by Lesley Wroughton Editing by Chizu Nomiyama

IMAGE: IBM in Brazil
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