OPEC’s latest outlook for the oil market has flagged concerns about falling demand (due to higher prices) and rising supply from U.S. shale oil. U.S. oil exports climbed 72% on a year earlier in the three months to April. Yet, the U.S. is still a net importer with an average 189 million barrels of oil (mboe) of imports in the past six months vs. 47 mboe of exports. One challenge for OPEC’s outlook, and American imports, comes from PdVSA’s struggles to export oil from Venezuela. U.S. seaborne imports from Venezuela fell 38% in May on a year earlier raising supply chain problems for Citgo ...