Regime Change in Venezuela Could Trigger Oil Price Spike Then Slump

Ever since President Trump ordered the first strike on a boat offshore Venezuela, speculation about a direct intervention in the South American country with a view to regime change has been rife. Much of that has focused on oil, for obvious reasons. For those very same reasons, a U.S. regime change in Venezuela would have far-reaching implications. Venezuela has the largest proven reserves of crude oil in the world. Most of those reserves are heavy crude, for which U.S. Gulf Coast refineries are calibrate ...