# 24: Global Oil Markets 2026: Iran Conflict, Venezuela Supply, and Rising Prices

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Text version: https://stenobird.com/podcast/the-energy-forum-7083503/24-global-oil-markets-2026-iran-conflict-venezuela-supply-and-rising-prices.md
Podcast: [The Energy Forum](https://stenobird.com/podcast/the-energy-forum-7083503)
Published: 2026-03-06T19:12:11+00:00
Episode link: https://energyforum.podbean.com/e/24-global-oil-markets-2026-iran-conflict-venezuela-supply-and-rising-prices/
Audio file: https://mcdn.podbean.com/mf/web/eqv2549vxeuyhqcx/Oil_Markets_March_-_Maram_Hijazi645km.mp3
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Duration seconds: 1607

## Resource

In this episode of The Energy Forum, Abhi Rajendran and Skip York unpack the latest developments discussed at the Center for Energy Studies’ Oil Market Roundtable. The conversation examines how tensions involving Iran, evolving policy in Venezuela, and disruptions across global energy trade are influencing oil prices and market expectations. They also explore the emerging divide between sanctioned and unsanctioned oil barrels, the ripple effects on diesel and LNG markets, and whether U.S. shale producers will respond to higher prices. With geopolitical risk rising and supply uncertainty growing, the discussion highlights why some analysts now see $70 as the new floor for oil prices. This episode was recorded on March 5, 2026.

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## Transcript

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