A cartoonish oil gusher

Issue of the week: Venezuela and the markets ...

“The failure of economists to forecast recessions is virtually unblemished,” notes Prakash Loungani, assistant director at the International Monetary Fund (IMF). This includes the economists at the IM

The story of commodities in 2025 was “energy down, metals up hard”, says Ole Hansen of Saxo Bank. Silver and copper are continuing their record-breaking rallies, but the world’s oil men are feeling gl

We are in a real-life game of Risk. In 2019, Fiona Hill, an official at the US National Security Council during Donald Trump’s first term, said the Russians had informally proposed a plan whereby they

About a quarter of the size it used to be. Venezuela has the world’s biggest proven reserves of oil, estimated at more than 300 billion barrels, or around 17% of the global total. The oil lies onshore

The withdrawal of the cut in fuel duty means filling up will cost more, says Paul Lewis