Monday, January 05, 2026

Tab Clearing...



*The tl;dr is that not only is Venezuela's oil infrastructure decades old and dilapidated from lack of maintenance, even if you fix it, Venezuela's oil reserves are sulfur-rich sludge, what is known as "heavy sour" as opposed to the "light sweet" crude preferred for easier pumping and refining. Also, demand is not rising at old rates and we're actually in a global overproduction scenario at the moment to the tune of several million barrels.