The death of the Venezuelan President, Hugo Chávez, is unlikely to have a significant impact on global oil markets in the short term, although this impact could yet be in either direction. Over the longer term, changes in policy towards the energy sector might eventually allow Venezuela’s oil production to return to the much higher levels seen in the late 1990s. However, any such recovery would take many years.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.