Russian oil revenues about to take another hit due to lower prices
>The US is also preparing to allow Chevron and other firms to resume limited operations in Venezuela, which could boost crude exports by over 200K barrels per day and ease supply tightness for heavier grades.
an additional 200,000 bpd is huge given that the IEA forecasts total global oil demand growth at 700,000 bpd this year
its enough to make the market firmly in oversupply by the end of the year
ClydeFrog1313 on
Is Trump normalizing relations with Venezuela slowly? I can think of 3 reasons he might do so. 1. Support other strongmen leaders, 2. Give reason to deport Venezuelan refugees back, and 3. Lower oil costs.
I’m gonna guess that the Cuban vote won’t care here despite them conveniently caring about communism when democrats are in power…
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Russian oil revenues about to take another hit due to lower prices
>The US is also preparing to allow Chevron and other firms to resume limited operations in Venezuela, which could boost crude exports by over 200K barrels per day and ease supply tightness for heavier grades.
an additional 200,000 bpd is huge given that the IEA forecasts total global oil demand growth at 700,000 bpd this year
its enough to make the market firmly in oversupply by the end of the year
Is Trump normalizing relations with Venezuela slowly? I can think of 3 reasons he might do so. 1. Support other strongmen leaders, 2. Give reason to deport Venezuelan refugees back, and 3. Lower oil costs.
I’m gonna guess that the Cuban vote won’t care here despite them conveniently caring about communism when democrats are in power…