Jorge Leon

speaker

25 appearances 1 recordings 1 series first heard Dec 2025 last heard 17 Dec

Jorge Leon’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Dec 2025 with 1.

newest first · ▶ plays the moment

I think it's pretty significant.

Let me give you some numbers.

Right now, Venezuela exports around 700,000 barrels per day.

Out of that, 150,000 barrels per day are from Chevron, and Chevron is exempted.

So that leaves us with 550,000 barrels per day.

Now, the important thing about those barrels is not just...

The number, which is significant, of course, but it's where those barrels are flowing.

Those barrels are flowing to China.

So this is part of a broader geopolitical confrontation.

And importantly, the oil that China receives from Venezuela is heavily discounted.

So yes, I'm sure China could replace those barrels somewhere else.

but those bars would not be as cheap as the ones that they get from Venezuela.

This would be devastating for the Venezuelan economy.

Venezuelan economy very heavily relies on oil revenues, and essentially those oil revenues will be, in practical terms, halted.

So this would be devastating.

Let's not forget that Venezuela now is starting to face again a period of hyperinflation.

So I wouldn't be surprised if this will have very, very negative consequences for the Venezuelan economy.

Years ago, this would have been a $5, $10 per barrel increase.

This is the case because we're entering into a period in the oil market of surplus, massive surplus in the oil market.

The price is coming down.

Showing 1–20 of 25 · page 1 of 2