So, what does the situation in Venezuela mean for the energy market. Let's ask top oil analyst Paul Seni, uh, president of Seni Research. Paul, it's good to see you.And how are you thinking about the events uh, in Venezuela, Cuba, as it relates to the oil price. >> Yeah, I think the market perceives it to be potentially bearish, obviously, if you were to change regime and then open up. But, of course, it's it's going to be a knee-jerk reaction.the reality of the barrels coming back to the market will will l ...

Oil Market Overview - The oil market is experiencing a rebound due to a more modest increase in supply than previously feared, with OPEC considering a return of 1.6 million barrels per day over the next three months [1][2] - Concerns about oversupply are prevalent, particularly with significant volumes coming from non-OPEC countries like Guyana, Brazil, and Canada [4][5] - OPEC plans to ramp up capacity to 4 million barrels per day, but only 70-75% of the initial announced uplift has materialized [5] Demand and Supply Dynamics - The surplus in oil is primarily occurring in China's strategic storage, leading to bearish sentiments in the market [6] - Demand is expected to remain healthy, with forecasts indicating a drop in non-OPEC supply from 1.2 million barrels per day this year to 0.5 million next year [7] - An inventory build is currently observed in China, which is expected to continue throughout the winter [8] Future Price Projections - The average oil price is projected to decline to around $60-$61 per barrel for the quarter, with a more balanced market anticipated in the second half of 2026 and into 2027 [6][9] - Prices are expected to average over $70 per barrel in the latter half of 2026 and into 2027 as the market stabilizes [9]