The podcast explores the potential implications of recent political developments in Venezuela for the oil and commodity markets. Daan Struyven, co-head of Global Commodities Research at Goldman Sachs, suggests that while the short-term effects on oil supply are ambiguous, the long-term impact could be significant, especially with potential U.S. involvement. He notes that Venezuela holds 20% of global oil reserves, particularly heavy crude, which is valuable to U.S. refiners. Struyven also points out that increased Venezuelan oil production could lower global oil prices by approximately $4 per barrel by 2030. Additionally, the discussion touches on gold, with its price increasing due to geopolitical tensions and central banks diversifying away from the dollar.
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