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U.S. Captures Maduro, Trump Vows Role in Venezuela’s Oil as Markets Await OPEC+

Analysts expect a modest initial effect on prices given Venezuela’s roughly 1.1 million barrels per day of output, with global supply seen as ample.

Overview

  • Oil futures reopen Sunday evening and OPEC/OPEC+ ministers have a teleconference planned to assess whether supply policy needs adjustment.
  • Venezuela holds about 303 billion barrels of proven reserves but currently produces roughly 1.0–1.14 million barrels per day, far below historical levels.
  • President Donald Trump said U.S. companies will invest billions to repair and operate Venezuela’s damaged petroleum infrastructure during a transition.
  • Much of Venezuela’s output is heavy, acidic crude suited to U.S. Gulf Coast refineries, and recent sanctions plus a tanker blockade have limited exports.
  • PDVSA’s network has severely deteriorated, with estimates such as a $58 billion investment need to restore capacity, while analysts see near-term volatility but not a runaway price spike.