The concept of sovereign oil markets versus global oil markets is really interesting. Most energy discussions focus on supply volumes, but the structural shift toward bilateralexchanges outside OPEC mechanisms could fundamentally reshape pricing dynamics. I've seen similar fragmentation patterns in other commodities where major producers bypass traditional exchanges. The Canada squeeze angle is underrated, they'd basically need to pivot from US dependency overnight if Venezuelan volumes ramp up.
The concept of sovereign oil markets versus global oil markets is really interesting. Most energy discussions focus on supply volumes, but the structural shift toward bilateralexchanges outside OPEC mechanisms could fundamentally reshape pricing dynamics. I've seen similar fragmentation patterns in other commodities where major producers bypass traditional exchanges. The Canada squeeze angle is underrated, they'd basically need to pivot from US dependency overnight if Venezuelan volumes ramp up.
Absolutely. The Canadian angle is particularly significant.