Venezuela's PDVSA: Oil Talks with US Progressing, Demands International Prices

• Venezuela's state-run oil company PDVSA confirms ongoing negotiations with the United States for oil sales.
• The US seeks access to up to $2 billion worth of Venezuelan crude, following demands from President Donald Trump.
• PDVSA board member Wills Rangel insists that the US must buy cargoes at international prices.
• Trump had demanded "total access" to Venezuela's oil industry, after the US deposed President Nicolas Maduro.
• Chevron is currently the sole company exporting Venezuelan crude to the US under a special license, despite sanctions.

Why It Matters: Venezuela's PDVSA advances oil talks with US, firm on international pricing despite US demands for access.