Insight
Venezuela debt default: implications for oil
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Venezuela faces considerable debt repayments in 2017 and debt default is a key risk. Economic strain is worsening as inflation skyrockets. In a worst case scenario, debt default in 2017 could impact over 300,000 b/d of oil supply in 2018. Heavy oil projects in the Orinoco would be most affected. This would help ease the global oversupply in the second half of 2018 and be price supportive.
Table of contents
- Growing political pressure, but no major reform anticipated
- Economic strain worsening as inflation skyrockets and debt repayments mount
- Over 300,000 b/d of oil production in 2018 at risk if default occurs in 2017
- Market fundamentals would tighten in H2 2017 and be price supportive
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
Latin America upstream in brief
The Latin America upstream in brief provides the Wood Mackenzie view on key industry events in Central and South America as they unfold.
$6,750
Asset Report
Marlim Leste Area
Marlim Leste is a medium-sized, deepwater oil and gas field located to the east of the giant Marlim field. It is part of the Marlim ...
$3,720
Asset Report
Tartaruga Verde
This report covers the Tartaruga Verde, Tartaruga Verde Sudoeste (SO) and Espadarte Module III developments. Tartartuga Verde consists ...
$3,720
