World's Largest Oil Refining Company Halts Venezuelan Oil Purchases Following President Trump Tariff Announcement - The Last Refuge

World's Largest Oil Refining Company Halts Venezuelan Oil Purchases Following President Trump Tariff Announcement - The Last Refuge

Last week President Trump announced secondary tariffs of 25% against any nation who purchases oil from Venezuela.  The approach was in response to the Venezuelan government refusing repatriation of their criminal gang members and organized narcotraffickers. India operates the world’s largest oil refining company Reliance Industries, and facing the possibility of 25% tariffs against India, […]

The United States threatens secondary tariffs and withdraws Repsol’s permission to operate in Venezuela and imposes a new 25% tariff on that country’s crude oil. What will happen to the price of oil?