A Venezuela oil revival could set up winners — and losers — in US energy

Venezuela is home to the world's largest oil reserves, but its energy industry has been battered by decades of underinvestment, sanctions, and political instability.

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• Investors are betting on new investment in Venezuela's battered oil sector after the US raid over the weekend.
• A surge in Venezuelan oil could squeeze smaller US shale producers, analysts warn.
• Heavier Venezuelan crude may boost refiners while dragging on oil prices and shale firms.