President Trump’s plan to seize control of Venezuela’s oil industry post-Maduro capture may not immediately affect oil prices, as the nation’s oil infrastructure has deteriorated due to neglect and sanctions. Analysts suggest it could take significant investment and years to boost production from the current 1.1 million barrels per day, despite Venezuela holding the world’s largest proven crude oil reserves. The political climate remains unstable, complicating foreign investment, but American oil companies are interested if stability is achieved. Venezuela’s heavy crude is essential for diesel and could potentially lower global prices and pressure Russia.
Want More Context? 🔎
Loading PerspectiveSplit analysis...
