How Sabotage and Geopolitics Add Risk to the Global Oil Market

The transcript discusses the impact of sabotage and geopolitical tensions on the oil market. It highlights the risks associated with sabotage acts on pipelines, particularly in Saudi Arabia and Russia, and how these acts temporarily remove oil from the market, affecting supply and inventories. The discussion also covers the potential for policy or military confrontations and the broader implications of using oil as a geopolitical tool. The market's response to these factors, including the role of US oil, is also examined.

What are the small acts of sabotage referred to in the text, and how might they affect the oil market?

Discuss the implications of Venezuelan oil production cuts mentioned in the text.