RBC commodity chief: The oil market has a lot riding on Venezuela

Helima Croft, a managing director and the global head of commodity strategy at RBC Capital Markets, discusses how Venezuela could possibly “implode,” and what that will mean for the oil market, After all, the country has the world’s largest proven reserve, and makes up 10% of US oil imports. Croft thinks that situation will impact geopolitics and the macroeconomic environment to a much greater extent than it has in recent months. She also acknowledges that markets have largely brushed off recent developments in the Middle East.