Venezuela Steps Up Campaign To ‘Stabilize’ Oil Prices

With oil prices struggling to hold above $50/B and market fundamentals suggesting little change in the status quo for at least another six to nine months, Venezuelan President Nicolas Maduro is again stepping up efforts to muster support for initiatives aimed at “stabilizing” oil prices. And, rest assured, he’s not looking for stability at $45/B.

Oil prices collapsed over the six months to January....