• 2 minutes U.S. Presidential Elections Status - Electoral Votes
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 52 mins https://www.prageru.com/video/whats-wrong-with-wind-and-solar/
  • 18 hours Here it is, the actual Complaint filed by Dominion Voting Machines against Sydney Powell
  • 2 days Pollster Frank Luntz released a poll today showing 90% of those that voted for Trump in November would vote for him again.
  • 10 hours Tonight Twitter took down Trump's personal account permanently. Trump responded on the POTUS account.
  • 15 hours CNN's Jake Tapper questions double amputee purple heart recipient GOP Rep's commitment to democracy. Tapper is a disgrace.
  • 2 days ICE Engines Hear to Stay Regardless of War Against
  • 2 days Do Republicans like Liz Cheney, Adam Kinzinger, Mitt Romney and now McConnell think voting for Impeachment can save the party ? Without Trump base what is the Republican constituency ? It's over.
  • 16 hours A Message from President Donald J. Trump - 5 minutes from The White House directly
  • 20 hours The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 2 days Minerals, Mining and Industrial Ecology
  • 2 days a In 2020, we produced and delivered half a million cars.
  • 2 days Trump Supporters Just Handed a Huge Propaganda Victory to China
The World’s Next Giant Oil Discovery Could Be Here

The World’s Next Giant Oil Discovery Could Be Here

A genius geochemist has stumbled…

Saudi Energy Minister: Venezuela’s Crisis Has Had No Impact On Oil Market

The political crisis in Venezuela has not had an impact on the oil market and there is no need for any additional measures, Saudi Arabia’s Energy Minister Khalid al-Falih told Russian news agency RIA Novosti in an interview on Monday.

Al-Falih said he had not discussed the turmoil in Venezuela with his colleagues at OPEC.  

No one has proposed the holding of an extraordinary meeting of OPEC and its non-OPEC partners over the chaos in OPEC member Venezuela, Alexander Novak, the energy minister of the non-OPEC leader Russia, said last week.

Venezuela’s opposition leader Juan Guaidó, the president of the National Assembly, declared himself interim president last Wednesday, and the United States supported him against Nicolas Maduro, whom the U.S. Administration declared an “usurper” with no legitimacy to the presidency.

Countries around the world have started to take sides, backing one of the two leaders claiming to be president of the crisis-stricken Latin American nation that holds the world’s largest crude oil reserves. 

The European Union “strongly calls for the urgent holding of free, transparent and credible presidential elections in accordance with internationally democratic standards and the Venezuelan constitutional order,” the EU said on Saturday. “In the absence of an announcement on the organisation of fresh elections with the necessary guarantees over the next days, the EU will take further actions, including on the issue of recognition of the country’s leadership in line with article 233 of the Venezuelan constitution,” the EU warned.

Germany, Spain, and France gave Maduro eight days to call elections, otherwise they would recognize Guaidó as president.

Maduro on Sunday rejected the ultimatum.

While Saudi Arabia’s al-Falih sees no need for market intervention, analysts told CNBC on Monday that Venezuela is back in the spotlight of the oil market.

“Oil’s ticking time bomb is sure to detonate at some point and the price reaction will be anything but muted,” CNBC quoted Stephen Brennock, oil analyst at PVM Oil Associates, said in a research note published on Monday.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

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