Big Oil Is Changing Its Mind About Venezuela: New Economy

Bloomberg · last updated June 6, 2026 – 8:42 PM

This week’s newsletter is written by Houston-based senior oil reporter Kevin Crowley, who has covered global commodities, energy and finance for almost two decades. Your feedback is welcome, and if you aren’t yet signed up to receive this newsletter, you can do so here.

An old maxim of the oil industry is that big fields tend to get bigger. Crude tends to be found near already-known deposits. Better technology can access deeper or more technically challenging resources at lower cost.

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