Coronavirus was a distant concern for us in Latin America back in February. Higher infection rates in colder weather made the idea of COVID-19 even harder to grasp as a threat. Life continued as normal, and the pandemic felt a
Welcome to The GERM Report by Dan Graeber, a commentary on the intersection between geopolitical events and the price of oil. GERM stands for Geopolitical Energy and Risk Monitoring. Our indicator is based on the expected price volatility by the end
The implementation of the IMO sulfur cap on marine fuels will change Latin American flows because of the impact on demand and prices for heavy-sour grades of crude oil. Many Latin American suppliers produce the heavy-sour crude good for production
Before the Trump administration began its crackdown on Caracas, the United States was the largest supplier of refined products to Venezuela. With strict sanctions in place, Venezuela has now turned to the European market, and notably Russia, in order to
Venezuelan oil export loadings are strong so far in June. Russia, meanwhile, continues to bet on Nicolas Maduro’s success.
Venezuela: between political crisis and oil flows.
A month and a half have passed since US sanctions restricted exports of Venezuelan crude oil to US refiners. Although the South American country is the biggest loser, refineries on the US Gulf Coast are also affected by US foreign policy.
As the US closes its doors to Venezuelan crude, we see more cargoes heading to Asia, with India as the primary destination amid talk of PdVSA seeking to barter for its oil.
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