The Annual Offshore Oil & Gas Event
logo

The 25thBeijing International Offshore Oil & Gas Exhibition

ufi

BEIJING,CHINA

March 26-28,2025

LOCATION :Home> News > Industry News

Oil pushes higher as Venezuelan crisis threatens crude flows

Pubdate:2019-01-28 11:12 Source:liyanping Click:

NEW YORK and LONDON (Bloomberg) -- Oil prices moved higher as analysts predicted the mounting political crisis in Venezuela could take a chunk out of global crude flows.

Futures rose as much as 1.5% in New York. Venezuela, owner of the world’s biggest oil reserves, could see crude production drop by a third this year, analysts at Fitch Solutions said Friday. The United Nations Security Council, meanwhile, scheduled a meeting in New York on the turmoil, as the U.S. ordered many of its diplomatic personnel out of the country and considered sanctions on its oil exports.

Tensions flared anew this week as National Assembly leader Juan Guaido moved to oust strongman President Nicolas Maduro, with the backing of the U.S. and other countries. Any slowdown in Venezuela would come atop supply cuts orchestrated by OPEC and Russia this year to boost crude prices.

“There’s an upward bias here, considering there’s supply-side outages and potential ones lurking,” Michael Tran, an RBC Capital Markets LLC commodity strategist, said by telephone. “The market could be tighter than what people previously anticipated.”

Prices also climbed on hopeful economic news. Equity markets rallied around the globe on encouraging earnings reports and word that the U.S. Federal Reserve was considering an early halt of efforts to reduce its balance sheet.

Crude had already posted a strong start to the year before the Venezuela flare-up, as the Organization of Petroleum Exporting Countries and its allies cut output. Prices have risen around 25% from a late December low. But the rally has slowed on fears of weakening global growth, exacerbated by the U.S.-China trade fight and America’s government shutdown. Despite Friday’s gains, oil and equities remained on track for their first losing week of the year.

West Texas Intermediate crude for March delivery gained 51 cents, or 1%, to $53.64/bbl on the New York Mercantile Exchange as of 12:25 p.m.

Brent for March settlement advanced 46 cents to $61.55/bbl on the London-based ICE Futures Europe exchange, and traded at a $7.89 premium to WTI. The global benchmark crude has dropped 1.9% so far this week.

While the U.S. shale boom has shown some signs of slowing, American supplies are still abundant. U.S. crude stockpiles rose the most since November last week and gasoline inventories climbed to a record, government data showed on Thursday.

Venezuela risk

A major disruption in Venezuela could be a game-changer.

The OPEC member has already seen its output drop 50% in five years as a spiraling economic crisis takes its toll on the oil industry. Even without new U.S. sanctions, Venezuela’s production -- currently about 1.2 MMbpd -- may lose a further 300,000 to 500,000 bpd, RBC Capital Markets estimates.

Internal conflict could result in a much bigger and longer-lasting disruption. Even if Maduro’s government is replaced, “the road back for Venezuela will be extremely arduous given the depths of the economic and humanitarian crisis,” Tran and fellow RBC analyst Helima Croft wrote in a note.

主站蜘蛛池模板: 黄+色+性+人免费| 久久精品国产亚洲夜色AV网站| av无码免费一区二区三区| 精品久久久久中文字幕日本| 成人AAA片一区国产精品| 午夜无码A级毛片免费视频| 七次郎成人免费线路视频| 精品韩国亚洲av无码不卡区| 成人午夜又粗又硬有大| 免费高清在线观看| a级黄色一级片| 欧美高清在线精品一区| 国产精品日韩欧美久久综合| 亚洲中文字幕无码久久| 国产精品福利尤物youwu| 日韩中文字幕网| 国产一区曰韩二区欧美三区| 中文字幕永久在线视频| 精品国产一区二区三区在线| 天天插在线视频| 亚洲日韩中文字幕在线播放| 亚洲人成7777| 日本护士激情波多野结衣| 啊轻点灬大ji巴太粗太男| xxxxx国产| 欧美日韩3751色院应在线影院| 国产白嫩美女在线观看| 久久午夜无码鲁丝片直播午夜精品| 老司机精品视频在线| 波兰性xxxxx极品hd| 国产精品乱子乱xxxx| 久久精品久久精品| 网曝门精品国产事件在线观看| 好男人官网资源在线观看| 亚洲欧美日韩综合久久久久| 日本娇小videos精品| 日批免费观看视频| 你是我的城池营垒免费观看完整版 | 国产毛片哪里有| 久久久久久91| 琴帝type=小说|