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Crude prices are low. Companies are being cautious. But huge reserves — particularly of the heavy, viscous oil Venezuela has in abundance — remain appealing.
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It is unclear what, if anything, Venezuela would get in return for the oil, which is worth somewhere between $1.8 billion and $3 billion at current market prices.
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The average price of unleaded gasoline in the U.S. is at its lowest since 2021, according to AAA.
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