OPEC is neutral about crisis in Iran and Venezuela

[Petar + 76]

OPEC doesn't think about rising oil production, so the crisis in Venezuela and protests in Iran are not so important in this segment of oil's market? They send clear message: “Even if there was a supply disruption (from Iran or Venezuela)... OPEC will not raise output”

Edited January 8, 2018 by Petar

[Kate Turlington + 44]

Not sure I follow, but there's already a supply disruption coming out of Venezuela. Iran I don't think is going to see a major supply disruption--yet. 

[Rodent + 1,424]

Calling Venezuela's supply disruption temporary 

OPEC is just soothing market fears. Everyone is talking about how OPEC will be less inclined to stick to the production cuts as supply tightens in certain areas of the globe. They're saying no, no, they will keep keeping on, but what they're saying is vague. They're basically saying that temporary disruptions won't cause them to quit the deal, but temporary is a comparative word that, on its own, means nothing. Members are already cheating (Iraq) in a big way, as overall compliance holds thanks for Venezuela's accidental production declines, which is by no means temporary. 

This is not a temporary supply disruption, and OPEC knows that well. Venezuela has zero hope in the near future of ramping up its oil production. Laughable.