When we think of areas of oil production at risk, let’s remember to include Venezuela… Here is Bloomberg: (http://www.bloomberg.com/news/articles/2016-08-16/venezuela-oil-exports-seen-falling-as-economic-woes-worsen)
“Exports from the holder of the world’s largest crude reserves fell more than 300,000 barrels a day in June, compared with the 2015 average, according to the report written by Luisa Palacios, a senior managing director at Medley Global Advisors LLC. While Venezuela’s output has been declining all year, the impact is only now being felt on international markets because previous losses were offset by slumping domestic oil demand amid an unprecedented economic recession.”
“Venezuela’s crude production in July dropped to 2.15 million barrels a day, compared with an average 2.4 million last year, the International Energy Agency said on Aug. 11.”
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