Oil markets have largely ignored Venezuela’s political transition, as structural constraints prevent any rapid increase in supply. Production capacity is limited, infrastructure is degraded, and investment economics remain unattractive at current prices. While Venezuela’s vast reserves may matter in the 2030s if prices rise and politics stabilize, they pose little risk to global oil balances in the near term.
09-01-2026 14:45 GMT
by Łukasz Zembik