What Oil Sanctions on Venezuela Might Look Like

The video discusses potential US sanctions on Venezuela, focusing on two main options: sanctions on US light oil exports and a ban on Venezuelan crude to the US. The first option is unlikely to impact Venezuela significantly due to the availability of light sweet crude on the market. The second option, banning Venezuelan crude, could have severe economic consequences for Venezuela, potentially leading to default and production shutdowns. This could also affect the US, causing gasoline prices to rise and impacting the oil market.

What is the daily amount of US light oil exports to Venezuela that could be sanctioned?

• 50,000 barrels

• 75,000 barrels

• 100,000 barrels

• 150,000 barrels

Why might the sanction on US light oil exports to Venezuela have little impact?

• Venezuela has its own light oil reserves

• The US will continue to export other products

• There is a surplus of light sweet crude on the market

• Venezuela does not need light oil for blending

How much Venezuelan crude oil is exported to the US daily?

• 400,000 barrels

• 600,000 barrels

• 1,000,000 barrels

• 800,000 barrels

What is one potential consequence for Venezuela if the US bans its crude oil imports?

• Decrease in global oil prices

• Venezuela defaults on loans

• Venezuela becomes a net oil importer

• Increase in Venezuelan oil production

What could be the impact on US gasoline prices if Venezuelan crude oil imports are banned?

• Prices could remain stable

• Prices could increase by $0.50 a gallon

• Prices could increase by $0.10 a gallon

• Prices could decrease by $0.10 a gallon