U.S. Secretary of State Mike Pompeo has indicated that sanctions against Venezuela could be extended to include oil despite the “negative ramifications” – namely food security – after the recent elections. The effectiveness, or otherwise, of recently imposed sanctions on Iran in terms of other countries buying oil may provide a litmus test for action against Venezuela. U.S. imports of crude oil from Venezuela may have climbed by 42% in June after dropping by 38% in May and by 34% in the prior three months vs. a year earlier. That may reflect concerns from supplier PdVSA about ex...