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yesterday

Oil Eases as Wall Street Climbs on U.S. Move to Open Venezuelan Reserves After Maduro's Capture

Analysts warn Venezuela's battered infrastructure will delay any meaningful boost to global supply.

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Une sculpture représentant une main tenant une plateforme de forage pétrolier photographiée devant la compagnie pétrolière d'État Petróleos de Venezuela S.A, à Caracas, le 26 février 2025.
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Un opérateur à la Bourse de New York le 2 janvier 2026

Overview

  • Nicolás Maduro appeared in a New York court on Monday after a U.S. military operation removed him from Caracas.
  • President Donald Trump said U.S. oil companies will be authorized to exploit Venezuela's vast reserves.
  • Crude prices slipped about 1% in early trading with WTI near $56 a barrel and Brent around $60.
  • U.S. stocks advanced as energy and defense shares gained, with Chevron, ConocoPhillips and Halliburton higher and defense names also up.
  • Experts note Venezuela currently supplies roughly 1% of global crude, infrastructure can still export some barrels, China buys an estimated 80% of its oil, and a large production recovery would take years.