oil in Podcasts
productOil, a natural resource and energy commodity, discussed in relation to Venezuela and U.S. oil production.
Mentions Over Time
Mentions in Podcasts
We've seen the price of oil go up and down in tandem with the optimism about whether the talks are going to succeed or not.
Global stocks approached record highs and oil is falling as U.S.
That's say roughly the equivalent to about 13 to 14 percent of global demand for oil.
So in terms of what's been at play, if we really had to look at how much supply has been shut in in the Middle East for oil, for example, we're talking roughly 14 million barrels a day.
There are ways of getting oil out of the Middle East, which might be more clumsy than the Strait of Hormuz, but they are operating.
And I mean, I know that sounds a bit simple, but certainly there is oil flowing from Russia, it seems, perhaps more so than we ever realised.
But that's when people start talking about $200 a barrel for oil.
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