Oil Markets In Limbo After OPEC+ Meeting

Oil was flat at the start of trading on Tuesday, still caught between U.S.-Iran tensions on the one hand, and the downside risk of the U.S.-China trade war. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge)- Venezuela’s oil production plunged to just 830,000 bpd in April, down from 1.2 mb/d at the start of 2019, according to the EIA. OPEC had a lower estimate for Venezuelan oil production – down to 768,000 bpd in April. – Outside of a 2003 strike by PDVSA workers, which saw production plunge, Venezuela’s…