Oil Futures Give Back Post-Venezuela Incursion Gains

Group 1 - Crude futures have declined below pre-weekend levels following the ouster of Venezuelan President Nicolas Maduro by the U.S. [1] - The potential lifting of U.S. sanctions on Venezuelan oil could lead to an increase in supply, exacerbating the existing market surplus [1] Group 2 - A significant increase in Venezuelan oil production is anticipated, with projections suggesting an increase from approximately 1 million barrels per day to 1.5 million barrels per day in the near term [2] - Gulf coast refiners are expected to welcome the additional barrels from Venezuela [2]