Chevron caught in Venezuela oil clamp as PDVSA cuts output under U.S. embargo
NEW YORK, Jan 4, 2026, 15:11 ET Venezuela’s state-run oil company PDVSA has begun cutting crude output as storage fills after a U.S. export embargo — enforced through a blockade of sanctioned tankers — halted oil exports, the country’s main source of revenue, sources said. Chevron-chartered tankers that had kept moving under a U.S. authorization have not left Venezuelan waters…