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5 Reasons Oil Is Climbing (Hint: It's Not The Saudi Crackdown)

By Ellen R. Wald, Ph.D.Nov 07, 2017 05:03AM ET
5 Reasons Oil Is Climbing (Hint: It's Not The Saudi Crackdown)
By Ellen R. Wald, Ph.D.   |  Nov 07, 2017 05:03AM ET

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Do Deikins
DoRight Nov 07, 2017 1:40AM ET
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Are not the problems in Venezuela affecting the market also?
tony ooh
tony ooh Nov 07, 2017 1:40AM ET
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read the news objectively. review comprehension. issues in south america have nothing to do with oil or energy markets. south america voters are not the sharpest folks. learn.
Do Deikins
DoRight Nov 07, 2017 1:40AM ET
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While I am concerned deeply about the condition of the sweet people of Venezuela, I was speaking more specifically of the continued problems in the oil patch there.  It is getting more difficult for PDVSA to buy light crude to mix with their heavy Orinoco and other heavy oils they produce as few will sell it any longer with just a promise of remuneration. They are running out of places to deliver the reduced quantities of oil that they are producing, because no one wants to process it or store it for them, because their quality is deteriorating and because their promised payments are in arrears.  And their equipment is deteriorating because those who would maintain it have left for elsewhere.  Surprisingly there are still people who think that they should receive compensation for that of which they have worked hard and that it should not be confiscated by those who feel they deserve that for which others have worked.. Do you know what percentage of the world's oil comes from A. Latina?
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