Biden's Venezuela policy after Maduro outlasts Trump's maximum sanctions pressure

Venezuelan sanctions and the Maduro regime have been a backburner issue so far for US President Joe Biden. When he was elected, many energy analysts predicted he would grant some sanctions relief on humanitarian grounds.

Fernando Ferreira, director of Rapidan Energy Group's Geopolitical Risk Service, predicts we'll start to see the White House's direction on Venezuela later this year. We asked him about the ban on diesel-for-crude swaps, Chevron's waiver extension, the status of opposition leader Juan Guaido and the future of Venezuela's oil production.

Stick around after the interview for the Market Minute, a look at near-term oil market drivers.