The new year has started with further supply risks facing the oil market following the US arrest of Venezuelan President Nicolás Maduro. This action adds some supply risk to the market in the short term. However, longer term, a smooth transition means the potential for stronger Venezuelan supply. Admittedly, this will take several years and will also require foreign companies to invest in the domestic oil industry, which is easier said than done. The oil market has not reacted strongly to developments in Venezuela, with the market likely having already priced in some supply risk following the US blockade on ... (full story)