PDVSA Asks US, Russia For crude Oil... ?

PDVSA is asking to buy 4.2 million barrels of crude from US and Russia. They can't even unload what's sitting in their ports now. They wanted to buy either offsetting, open credit (HA!) or pre-payment. Not sure how they will pre-pay for anything, or unload it if they get it. 

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What is offsetting, anyway? 

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