How Venezuela Will Impact Global Oil Markets in the Upcoming Months

Should we prepare to see a global oil impact from Venezuela? Here's what BP's Chief Economist, Spencer Dale thinks.
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Should investors be worried about Venezuela? 

BP's (BP) - Get Report Chief Economist, Spencer Dale, talked to TheStreet about the Venezuelan crisis and what it means for the oil markets.

"I think Venezuela is clearly in a terrible situation in terms of its economy. It's GDP is falling very dramatically. Inflation is gone through the roof," said Dale. "That has an impact on oil production there. But they're still producing a significant amount of oil and so what happens to Venezuela over the next three, six, or 12 months has implications for the global oil markets."

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