BP CEO reveals Venezuela is his main geopolitical concern for the oil industry

Bob Dudley, CEO of BP (Image source: BP)

Despite the instability in the Middle East, the biggest risk for the oil industry is Venezuela, the CEO of BP told CNBC Monday.

"I think most people would say the Gulf region, I actually say Venezuela," Bob Dudley, CEO of BP told CNBC at the Abu Dhabi Petroleum Exhibition & Conference, when asked about geopolitics and the oil sector.

"I think Venezuela is just defying economic gravity and I think that's a real wild card," he added.

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