00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Venezuela's aging oil infrastructure could delay production growth from Trump's oil agreement for
00:08years, limiting any near-term impact on U.S. gasoline prices, according to CNBC.
00:14The country produces about 1.2 million barrels per day, down from 3.5 million in the late 1,990
00:22seconds. Riestat Energy estimated Venezuela would need about $180 billion of investment
00:28through 2040 to restore peak output. Export terminals also face capacity constraints,
00:34power outages, and tanker delays of up to 30 days. Much of the oil covered by the agreement is located
00:40in the Orinoco Belt, where fields have little or no infrastructure access. Former U.S. Energy
00:46Envoy David Goldwyn said those fields could take five to seven years to deliver additional production.
00:52For all things money, visit Benzinga.com.
