Oil prices have fallen due to ample global supply and uncertainty surrounding the situation in Venezuela. Analysts at ING noted: “Developments over the weekend have created further downside risks to Venezuela’s oil supply in the short term, but they also leave room for long-term growth.” The analysts added, “ This requires substantial investment in the country’s energy sector, and unless the investment climate becomes more attractive or investors are provided with some form of assurance, foreign companies may be reluctant to undertake these investments.” Meanwhile, Saudi Arabia, the world’s largest oil exporter, has cut the price of its flagship product—Arabian Light crude—for Asian markets for the third consecutive month.