Veteran Investor Dismisses Venezuela, Warns Of Long-Term Oil Underinvestment - VanEck Oil Refiners ETF (ARCA:CRAK), iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO)
Benzinga·2026-01-07 11:27
The arrest of the Venezuelan President Nicolas Maduro brought the seemingly forgotten oil sector into the spotlight. Yet, West Texas Oil (WTI) failed to reverse meaningfully, erasing Monday’s 2% gain and closing at $57 per barrel on Tuesday.“It is premature to evaluate the impact of Nicolas Maduro’s capture on the oil balance,” PVM Oil analyst Tamas Varga said, according to Reuters. “What seems obvious, nonetheless, is that oil supply will be sufficient in 2026, with or without an increase in production fro ...