Venezuelan oil to the rescue?

Oil remains the key driver across global markets, but could Venezuela help cool the pressure? The country is preparing to significantly boost production, thanks to US producers invstment. Yet not all oil is created equal. Venezuela’s crude is generally heavier and sourer than many Middle Eastern grades, making it harder and more expensive to transport and refine. So while additional Venezuelan barrels could weigh on global oil prices, they cannot simply replace disrupted Gulf supply. Meanwhile, elevated energy prices continue to fuel inflation concerns and hawkish central bank expectations. The ECB, BoJ, RBA, BoE and Fed are all facing pressure to keep monetary policy tight. On a ‘brighter note’, softer US jobs data could offer markets some relief — but for bad economic news to become good news for stocks, oil prices may first need to stabilise.

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Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025.