US may allow oil drilling in Venezuela this week. Just saw this info on Blossom Social and it got me thinking, could production ramp up fast enough to impact global oil prices? 🤔
Source: National-Theory1218
US may allow oil drilling in Venezuela this week. Just saw this info on Blossom Social and it got me thinking, could production ramp up fast enough to impact global oil prices? 🤔
Source: National-Theory1218
4 Comments
Consensus is, No.
No
OFS has lots of idling equipment right now. They can ramp fast, but will charge a premium for the risk, while simultaneously the majors aren’t interested in big risks at these oil prices.
No