Major Disruption in Venezuelan Oil Production in 2016, 2017.

Despite extensive government initiatives, Venezuela is suffering an economic crisis that could result in debt payment default in 2016 or 2017 - which in turn would trigger a major disruption in oil supply including bunker, ESAI Energy LLC reports. But ESAI's August 6 Latin America Watch also notes that "a sinking Venezuela could lift many other boats." ESAI cites a number of factors to support its prediction, key being that Venezuela's oil basket recently priced at 25 percent below the $60 government target for the 2015 budget: "That figure is much lower than fiscal break-even price estimates." More…