Turmoil in Venezuela Sends a Jolt Through Oil Market’s Outlands

While benchmark oil futures have largely shrugged off Nicolas Maduro’s downfall, the former Venezuelan leader’s ouster has reverberated through some of the less well-known corners of the market.

West Texas Intermediate futures, the US benchmark, are down about 1% on the week, a limited move that reflects the South American nation’s steadily declining output over the last decade, rather than its status as the holder of a vast amount of oil reserves.