Venezuela's state-run oil company PDVSA has begun cutting crude production because it is running out of storage capacity due to an ongoing U.S. oil blockade that has reduced exports to zero, piling more pressure on an interim government trying to hang on to power in the face of U.S. threats of more military action, Reuters reported.
Caracas is in political crisis under an interim government after President Nicolas Maduro and his wife were captured by U.S. forces on Saturday.
The OPEC country's oil exports, its main source of revenue, are now at a standstill following a U.S. blockade on tankers under sanctions and the seizure of two oil cargoes last month.
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