U.S. Halts Repsol's Venezuelan Oil Exports

The U.S. government has informed Spanish oil company Repsol that its authorization to export oil from Venezuela will be revoked. Repsol has not provided additional comments on this development.

The United States has announced plans to revoke the authorization of Spanish oil company Repsol to export oil from Venezuela, a decision communicated by U.S. authorities to the company on Monday.

This measure highlights ongoing regulatory actions regarding oil trade involving Venezuela, a country with vast energy resources but facing numerous economic sanctions.

Repsol spokespersons have refrained from providing further statements at this time, leaving industry watchers speculating on potential ramifications for the global oil market.

(With inputs from agencies.)