Oil prices slip on ample supply despite political turmoil in Venezuela

Core Viewpoint - Oil prices have decreased in early Asian trade due to sufficient supply, despite concerns regarding political instability in Venezuela, an OPEC member, which could potentially disrupt oil shipments [1] Supply and Demand - The current oil market is characterized by ample supply, which has contributed to the decline in oil prices [1] Geopolitical Factors - Political upheaval in Venezuela raises concerns about the potential impact on oil shipments, highlighting the vulnerability of supply chains in the oil industry [1]