Venezuela’s crumbling oil infrastructure

The FT News Briefing delivers a concise overview of key global events. The briefing highlights the U.S. plan to control Venezuelan oil sales, aiming to revive the industry, though significant deterioration of oil facilities poses a challenge requiring substantial investment and expertise. FT's energy editor, Malcolm Moore, explains the history and the factors of the deterioration. Furthermore, the podcast discusses progress on security guarantees for a potential Ukraine peace deal, with the UK, France, and the U.S. pledging support. FT's Henry Foy analyzes the impact of the pledges and highlights the importance of these developments in moving towards peace. Finally, it touches on Trump's call to ban institutional investors from buying single-family homes.