Bonds News in Venezuela, Bolivarian Republic of

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Venezuela's Oil Revival Faces "Decade Or Two" Climb Back To Record Output, Piper Sandler Warns

Venezuela's Oil Revival Faces "Decade Or Two" Climb Back To Record Output, Piper Sandler Warns President Trump's " Donroe Doctrine" positions energy security in the West as a key pillar of US national security. The removal of socialist Nicolás Maduro and the subsequent massive Venezuelan oil deal represent the opening act in a longer-term effort to rebuild production and secure supplies closer to the Gulf of America . Piper Sandler global energy strategist Jan Stuart's view, however, highlights the time required for these new Venezuelan supplies to ramp up: any meaningful recovery in Venezuelan output could take years , with a return to historic production highs potentially requiring a decade or two. That timeline clashes with the view that additional Venezuelan barrels could provide near-term relief to US refiners amid the global diesel crisis. " We'll stay tuned but suspect that reaching the old record highs will take a decade or 2 and oodles of good fortune ," Stuart wrote in a note.