Venezuela will be more effected by the coming increase from Iran than other countries. They both produce the heavy sour crude oil. Nigeria was more impacted by the increase by the fracking sweet crude that was coming from ND & TX.
Thackney feel free correct me if I am wrong.
However, they are all affected by a oversupplied market based on world demand.
Personally, heating oil here in NH is now under $2.00/gallon for the first time in years. However, I should not have spent $5000 putting in that Harman pellet insert last year. Heating oil is now cheaper than wood pellets.
Well you’re hedged against future oil spikes.
Sounds like a wise plan to me.