Gregory Brew

speaker

418 appearances 1 recordings 1 series first heard Jan 2026 last heard 7 Jan

Gregory Brew’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jan 2026 with 1.

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Odd Lots · This Is What Maduro's Arrest Means for the Oil Market · 7 Jan 2026 podcast

There's more mismanagement, more corruption.

Meanwhile, Venezuela's oil fields, which are tricky to manage given the nature of the crude, the technical problems that you encounter, you know, the industry falls into disrepair.

In the two thousands.

The price collapses, the oil price collapses in twenty fourteen, twenty fifteen.

This coincides with lots of protests against the Maduro government, you know, street uprisings, violent repression.

Maduro is cracking down.

And Venezuela oil production just tanks.

And at the same time, the US is putting sanctions on Venezuela, considerable sanctions, in connection to Maduro's repression.

So all of this coalesces into a story that has its peaks, that has its valleys.

But when we get to twenty twenty-five, uh, Venezuela is sitting on this giant oil industry that has fallen into disrepair.

It's producing a little bit, less than a million barrels a day.

It ostensibly has this massive reserve of crude oil that American companies actually have a lot of experience with dealing with.

Chevron, Exxon, the oil services companies, smaller US mid caps, all of them have been involved, or many of them have been involved in Venezuela over the last century.

So they know what's at stake down there, but they also know the risks.

The costs, and I think they're going to be very wary of getting involved again, particularly as the situation remains so uncertain.

So I'll start by saying the the oil industry, it has a pretty expansive approach to time.

Things take a long time.

When you discover a field, when it's in greenfield stage, where you drill test wells, where you expand and explore how big the reserve is, from that point to actually producing oil in commercial quantities, it can be a decade plus, particularly if it's maybe like an offshore field, like in Guyana or elsewhere.

Then if you're a big relatively integrated, vertically integrated international oil company,

You're gonna have places that you wanna send that crude.

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