• 4 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 7 minutes Countries with the most oil and where they're selling it
  • 10 minutes Stack gas analyzers
  • 13 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 15 hours US Military Spends at least $81 Billion Protecting OPEC Persian Gulf Oil Shipping Lanes (16% DoD Budget)
  • 1 day China To Promote Using Wind Energy To Power Heating
  • 5 hours How many drilling sites are left in the Permian?
  • 15 hours "Undeniable" Shale Slowdown?
  • 1 day Climate Change Protests
  • 24 hours Gas Flaring
  • 18 hours Overheating the Earth: High Temperatures Shortened Alaska’s Winter Weather
  • 16 hours Mueller Report Brings Into Focus Trump's Attempts to Interfere in the Special Counsel Investigation
  • 6 hours U.S. Refiners Planning Major Plant Overhauls In Second Quarter
  • 2 days Oil at $40
  • 7 hours Trudeau Faces a New Foe as Conservatives Retake Power in Alberta
  • 14 hours Everything Is Possible: Germany’s Coal Plants May Be Converted to Giant Batteries
  • 2 days Negative Gas Prices in the Permian
  • 2 days Japan’s Deflation Mindset Could Be Contagious

Breaking News:

Guaido Takes Strides To Topple Maduro

Four Countries that Could Send Oil Prices Up

The week of February 17 has been a violent one, with protests, intense political unrest, and many casualties in several countries around the world. Protestors in Ukraine are stealing the headlines, with a Molotov-cocktail fueled ring of fire. These events are significant, but for the energy world, it is the sudden wave of instability in oil producing countries that are on investors’ minds – unrest that threatens to send oil prices skyward.

With shale oil surging in the United States, sometimes we in the West forget how much we depend on some politically wobbly countries to meet global demand. Oil markets are extremely tight, so it only takes one or two of them to get oil markets into a tizzy. As of this writing, there are four important oil producers that are literally at the brink of disaster. These four countries could seriously rattle oil markets:

Venezuela. The South American country has the largest oil reserves in the world – yes, that’s right, more than Saudi Arabia – but it has punched way below its weight in terms of being a global energy player. Mismanagement, underinvestment, and outright corruption have plagued Petróleos de Venezuela (PDVSA), the state-owned oil company. It was long used as a piggy bank for social programs by the late Hugo Chavez. With revenues pillaged by the government, PDVSA has failed to raise oil production over the last twenty years, despite the rapid rise in oil demand and prices. In 1994,…




Oilprice - The No. 1 Source for Oil & Energy News