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
Asset Report
Junin 5
The Junín 5 block is located in the middle of Venezuela's Orinoco Heavy Oil Belt (also known as the Faja). The Faja is the ...
$3,720
Asset Report
Carito-Mulata
Carito-Mulata is a giant, deep onshore reservoir located in eastern Venezuela north of the Monagas basin. The fields are sub-divided ...
$3,720
Asset Report
El Furrial
The 1986 discovery of the giant El Furrial field was the first significant discovery to be made in South America in over 25 years and ...
$3,720
