for Supply outages
When producers that are inherently prone to conflict and resource nationalism lose supply, output will most likely not return to previous levels.
Despite the DOE and others making the case for a slimmer Strategic Petroleum Reserve, the U.S. is still vulnerable to wild price swings and global supply outages.
While progress with militant groups could portend the stability Nigeria needs to meet its goal to significantly rebuild its oil production capacity, the country still faces many challenges. Given its dependency on oil revenues, it's important the government continues to make peace with militants.
Weak oil and gas prices have been a boon for consumers and have fostered overdue reforms in producer countries in the Americas, but reduced investment on the supply side and the economic meltdown in Venezuela raise a number of open-ended questions about regional stability and security going forward.