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The United States Department of the Treasury extended the permit to operate in Venezuela held by Chevron and four other oil companies until June 3, 2021, according to a statement. The previous deadline for Chevron, which is the only major North American oil company that continues to operate in the…
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OPEC cuts back its oil production

The Organization of the Petroleum Exporting Countries (OPEC) cut its production in May by 236,000 barrels of crude oil per day, mainly due to the effect of US sanctions on Iran, according to the monthly report of the cartel on the oil…