What is happening: Venezuela is experiencing somewhat of an oil sale crisis of late, as there storage is filling up rapidly without a surplus of buyers.
Struggle: President Nicolas Maduro’s regime are finding it difficult to shift their oil supplies, the government’s only real source of income.
Tankers: Tankers full of crude oil for US refineries have been halted off the coast, and even turned away in some cases. Sanctions and issues with payment between the nations is now casting a cloud over trade.
Trade: Some companies are being allowed to make transactions with Venezuela over oil for the next few weeks, but money will be held in escrow.
Payment: Venezuela is therefore demanding payments in advance, leaving the supply chain in limbo, with likely global affects.