Crude #Oil & #Gasoline Prices as per May 16, 2023

1 Month Crude oil has had a sharp fall, yet gas prices have hardly budged.

Crude #Oil Price as per February 20, 2023

1 Month Gasoline prices still haven't shown the increase in crude prices have seen this last couple of weeks.

#Venezuela's #Oil Exports Continue at their Lowest Levels in 80 Years

There is little Venezuela can do to get out of its oil slump while the current government stays in power. A radical overhaul and a back to basics strategy across the board is needed before things improve markedly.   As things stand, no serious capital is willing to be committed to the country and/or the oil industry. 

And no real effort is being made to increase that production, as can be seen from its rig count. 

Venezuela's drilling rig count has remained at zero since 2020 amid a lack of investment and U.S. sanctions, leading to stagnant oil output.

#Oil's Roller Coaster Ride

Crude has had quite a ride since #Russia's invasion of #Ukraine.  First up 38% in the first 12 days, but it's been downhill since.