Listen: Venezuela, International Energy Agency And Saudi Arabia discussed on KCBS Radio Morning News
"Price of oil. Pulling back from a four month high down eighty cents at fifty seven dollars and eighty one cents. Venezuela's deepening political crisis could send a jolt through the oil market. The International Energy Agency is warning that a nationwide power failure in Venezuela could figure serious disruption to the oil market that would likely require Saudi Arabia to step up an offset the big drop in production by raising its own output, which it's been cutting as part of an OPEC plan to raise oil prices. And they have got up hitting that four month fi. They're having rolling blackouts throughout Venezuela and the country has diverted some of that energy to its date supported oil company in order to keep flowing that production out of"