In venezuela in advance of the election prospects - this may be triggered, if the President Hugo chavez to step down, because of his health deterioration in global oil market volatility, but may cause any the impact of higher prices may only be short-term.
President Hugo chavez breathing problems worse, cancer surgery in Cuba socialist leader is experiencing a new, serious respiratory tract infection, the latest report from Reuters, said on Monday quoted the Venezuelan government's update.
According to the constitution, the election must be held within 30 days, if Mr Chavez to step down. This will pave the way for the vice President maduro, fifty, and years old opposition leader enrique Capriles, who lost last year's election campaign, Mr Chavez confrontation between.
, "Nomura securities (Nomura) senior political analysts Alastair Newton said," all the signs are that, maduro is half in movement patterns of the vote may see Capriles leading opposition. "The election uncertainty rise, may cause some oil rising pressure, but I expect any before a general election sport is quite small."
However, Newton warned that "tail risk" price laid the possibility of victory against, "says the army has - in operation by the end of the election - it will not accept it." Assume that the vice President maduro and officially took over the REINS: "of course I don't expect any early major policy shift."
Brent (intercontinental exchange Europe: LCO. 1 @) and the United States oil futures trading session in Asia minor mild go high. Us crude oil trading in 11 a.m. and points (0320 GMT) Singapore time $90.40 barrel, rise and cents, from Monday's settlement, and brent crude oil futures rose 46 cents, to $110.55.
(read more: crude oil bounced back, down to 2 months low)
Galactose LUFT, in global security and U.S. energy security council senior consultant analysis institute jointly director said, although Mr Chavez leave may have considering the price, but not "into the market before the new leadership quiet clear what is the nature of."
Clear will be in the running state of PDVSA oil producers will be equally important, kraft said. "The company has been having a very ineffective personnel changes and remove the manager has to be replaced by political appointed officials," he said. "Once we begin to see the changes in the leadership of the company, which reflects the professional knowledge and ability, this may mean that the company is head back, be to attract investors.
At the same time, a former senior PDVSA told CNBC, venezuela has lost its ability to influence the global oil market, because of years of Opec members of the petroleum industry investment, restricted the production.
"Venezuela is a weak Opec eagle, influence the price, because it does not have enough production," said gustavo · family ROM. Neil, the state oil company Venezuelan oil the board of directors of the company one of the founding member. "Venezuela is no longer a factor, can really disturb the market, because it is twenty years ago."
(read more: venezuela currency devaluation clicks the United States, European company)
In addition, in the American help reduce energy boom, end see level has dropped to nearly 30 years Venezuelan net crude oil and petroleum products export to the United States rely on. Corot Neil said: "the United States will not miss very much, Venezuelan oil". "Whether the interrupt will be almost entirely psychological causes."
Opec's founding member, venezuela's total account balance, is expected to the end of 2011 to 29.65 billion barrels, according to BP (London stock exchange: BP. - GB) 2012 world energy statistical yearbook. This compared to Saudi Arabia to 26.54 billion barrels.
However, citigroup global markets, global commodities research director Ed Morse, "irrelevant" statistics, because Latin American manufacturers are trying to, in order to ensure enough investment and technical expertise remove lock resources.
"The question is what commerciable on the ground, and how fast it can be put into production, and so long as there is no capital inflow upstream in venezuela, especially capital company, with the technology development of heavy oil reserve base, the level of resources will continue to maintain a kind not relevant," he said, in June of last year.
 



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