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Oil Shock: Venezuela Eyes Historic OPEC Exit Amid US Energy Talks

Oil Shock: Venezuela Eyes Historic OPEC Exit Amid US Energy Talks
Source: Business Standard

CARACAS — In a move that could reshape global energy markets, Venezuela is actively considering an exit from the Organization of the Petroleum Exporting Countries (OPEC).

As one of the cartel's five founding members in 1960, the South American nation played an indispensable role in establishing the bloc. However, ongoing discussions involving United States participation in local oil fields have prompted Caracas to re-evaluate its strategic commitments.

Industry analysts warn that a formal departure would dramatically redefine global petroleum alliances and alter Latin American market influence.

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