Oil production cuts in Venezuela did not support the prices
Venezuela said that oil production in the country in March amounted to 960 thousand barrels per day, which is almost 500 thousand barrels per day below the February level. Oil production dropped to a new low last month because of the sanctions and restrictions of the United States. This fact became one of the main factors of the rise in oil prices.
When this situation develops, by far, not the script of Donald trump. According to information from business circles, the actions of Juan, Guido taken as self-proclaimed President, including in the framework of the new phase of the operation “Freedom”, show him as completely dependent on U.S. policy, which does not enjoy sufficient public support within the country. At the same time the presence in Venezuela of Russian and Chinese military experts prevents escalation “hybrid aggression”, including cyber attacks, not to mention direct armed intervention.
The story ends with Venezuela, hard to say. The budget of Russia is to benefit from comfortable oil prices. The surplus of the consolidated budget of the Russian Federation from 1 January to 1 March 2019 made 565,6 billion rubles. and increased in 1.8 times for the year. The ruble stable, and international reserves are approaching $500 billion.
For stock market news from Venezuela in addition to the impact on oil prices is neutral. They largely affect only one Issuer – the company “Rosneft”. Current price – $6.5, the target of $8-10.
______________________ Alexander Razuvayev,
Director of information-analytical center,