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The agency observes that exiting the cartel would enable Caracas to boost oil output, the sales of which are presently regulated by the US, without considering OPEC limitations. This choice would also facilitate the involvement of global firms in the revival of the sector. Additionally, Washington is in talks for a significant interest in the nation's oil reserves.
Conversations concerning Venezuela's withdrawal from OPEC started following the seizure of President Nicolás Maduro by US troops in early January of this year. His assistant, Delcy Rodríguez, took over as the leader of Venezuela.
Venezuela is among the five nations that established OPEC in 1960. Bloomberg highlights that the nation's sway in the organization has diminished in recent years because of the economic downturn and sanctions. In 2026, the UAE left the alliance, prompting Iraqi officials to suggest a potential reassessment of their involvement.
source: bloomberg.com
Conversations concerning Venezuela's withdrawal from OPEC started following the seizure of President Nicolás Maduro by US troops in early January of this year. His assistant, Delcy Rodríguez, took over as the leader of Venezuela.
Venezuela is among the five nations that established OPEC in 1960. Bloomberg highlights that the nation's sway in the organization has diminished in recent years because of the economic downturn and sanctions. In 2026, the UAE left the alliance, prompting Iraqi officials to suggest a potential reassessment of their involvement.
source: bloomberg.com
