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The power crisis in Venezuela could disrupt the oil markets



  In a protest against the Francisco Fajardo highway in Caracas on May 27, 2017, a protester stands against the government next to a national flag.

LUIS ROBAYO | AFP | Getty Images

An anti-government protester stands beside a national flag during a protesting protests blocking the Francisco Fajardo highway in Caracas on May 27, 2017.

A nationwide power failure in troubled Venezuela could "cause serious disruption." "On the oil market," warned the International Energy Agency (IEA) on Friday, but OPEC's head of Saudi Arabia should have the resources to offset further production problems in Caracas.

The failure has crippled the oil exports of OPEC member countries and made millions of citizens struggling to find food and water.

In much of Venezuela, power was restored on Tuesday, but many areas in the oil-rich but low-income country remain without electricity. It is generally expected that normal services can not be recovered for weeks or possibly months.


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