Summary
Venezuela's oil industry is caught in a deep-crisis.
There are signs that oil production is declining at a faster rate than many analysts are anticipating.
If output drops as sharply as it appears to be it could dislocate anywhere up to 900,000 barrels daily from global supplies bolstering prices.
President Maduro's attempts to hang on to power will only cause the crisis to deepen.
Venezuela's crisis will give OPEC and Russia an opportunity to review their stance on production cuts.