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General Discussion

Amishman

(5,554 posts)

1. Good!

Reply to IronLionZion (Original post)

Mon Sep 14, 2020, 11:53 AM

Sep 2020

Not getting much headlines, but very interesting is the final stage collapse of Venezuela's oil industry that is going on right now.

Their last functioning drilling rig shut down last month. There are zero new oil wells being drilled in the country with the largest oil reserves. production is down over 80%

This is a country that was tied with Kuwait for the #5 spot in OPEC just six years ago.

A huge oil player removed from the market, with no hope of rallying for years, and the market doesn't care.

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Highlight:

The world may never consume more oil than in 2019, BP says [View all] IronLionZion Sep 2020 OP

Good! Amishman Sep 2020 #1

The world stopped caring about Venezuela long ago IronLionZion Sep 2020 #2