Barclays Says Even If Venezuelan Exports Decline By 200 KB/D, Global Oil Prices Would Likely Be Unaffected

Dec 19 (Reuters) - BARCLAYS:

• SAYS EVEN IF VENEZUELAN OIL EXPORTS DECLINE BY 200 KB/D, IT WOULD BE UNLIKELY TO SIGNIFICANTLY AFFECT GLOBAL OIL PRICES

• MAINTAINS THEIR $65 PER BARREL BRENT FORECAST FOR 2026

• SAYS OPEC SUPPLY WILL EXCEED THE IMPLIED DEMAND FOR THEIR BARRELS BY 0.6 MILLION BARRELS PER DAY (MB/D), RESULTING IN THE INCREASE IN ESTIMATED IMBALANCE NEXT YEAR TO 1.9 MB/D FROM 1.3 MB/D THIS YEAR

• REITERATES THEIR LONG SEPTEMBER MINUS DECEMBER 2026 CALENDAR SPREAD RECOMMENDATION ON WTI FUTURES