• 6 minutes Can the World Survive without Saudi Oil?
  • 10 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 15 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 2 hours U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 2 mins WTI @ $75.75, headed for $64 - 67
  • 3 hours Saudis Pull Hyperloop Funding As Branson Temporarily Cuts Ties With The Kingdom
  • 11 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 1 hour U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
  • 11 hours UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
  • 14 hours EU to Splash Billions on Battery Factories
  • 11 hours China Thirsty for Canadian Crude
  • 16 hours Porsche Says That it ‘Enters the Electric Era With The New Taycan’
  • 16 hours Gold price on a rise...
  • 16 hours Judge Approves SEC Settlement With Tesla, Musk
  • 16 hours Dow logs 830-point loss
  • 12 hours Shell, partners approve huge $31 billion LNG Canada project. How long till Canadian Federal government Environmentalates it into the ground?
Alt Text

Oil Prices Subdued, But For How Long?

Oil prices may have closed…

Alt Text

Why The Oil Price Rally May Soon End

Not everyone seems to think…

Alt Text

Fear Has Driven Oil Prices Too High

The calls for $100 oil…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

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,…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





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