Oil prices have surged by more than 80 percent since February on the back of unexpected supply disruptions. But the market could be missing yet another potential supply disruption that could push up prices. Venezuela’s oil production could fall by a half million barrels per day in 2016, according to a recent estimate from Barclays. Electricity blackouts, financial distress, lack of maintenance, and a shortage of imported light oil for processing could lead to faster declines in the South America nation. Venezuela has already seen 120,000 barrels per day knocked offline because of blackouts, an outage that comes on top of years of gradual declines because of underinvestment in the country’s oil fields. The economic crisis could even force the state-owned PDVSA to default on debt later this year, according to a recent assessment from Moody’s. The oil markets are not yet pricing in this potential supply […]