A nationwide power failure in crisis-stricken Venezuela could trigger “serious disruption” to the oil market, the International Energy Agency (IEA) warned on Friday, but OPEC kingpin Saudi Arabia should have the means to offset any further production woes in Caracas. The IEA report comes at a time when Venezuela, home to the world’s biggest oil reserves, is in the midst of the Western Hemisphere’s worst humanitarian crisis in recent memory. “The electricity crisis in Venezuela has paralysed most of the country for significant periods of time,” the Paris-based group said in its closely-watched report on Friday. “Although there are signs that the situation is improving, the degradation of the power system is such that we cannot be […]