Market News
The Oil Sector’s Biggest Winners and Losers From Venezuela Regime Change -
BY Laura Sanicola
The capture of Venezuelan President Nicolás Maduro has reopened a question the oil market has largely sidelined for years: What changes if Venezuela’s oil industry begins to normalize under U.S. influence?
In comments today, President Donald Trump says the sanctions on Venezuelan oil remain in place, but he also said that the U.S. intends to be “very involved” in Venezuela’s oil sector, which he says requires billions of dollars fix the “badly broken” oil infrastructure. While Venezuela currently produces just 1% of global supply, the Wood Mackenzie estimate of $15–20 billion to add 500,000 barrels per day highlights the capital intensity of its extra-heavy crude.
