After a year of huge and unforeseen disruptions to oil supplies from Libya to Nigeria, optimism is growing that 2014 will be a year of plenty following the breakthrough agreement on Iran’s nuclear programme.
But within the oil industry, nervous traders are increasingly fixating on a fresh source of supply risk – Venezuela. In recent weeks Nicolas Maduro, who was elected to succeed Hugo Chávez as president in April, has assumed new powers in an attempt to revive the economy, and launched a clampdown on what he says is profiteering by businesses. (Read more… http://www.ft.com/intl/cms/s/0/44955dfc-55d2-11e3-b6e7-00144feabdc0.html#axzz2lnEFsoJx)
(English, Article, 2013)