Catenaa, Tuesday, January 06, 2026-Crude oil prices edged lower as political upheaval in Venezuela injected new uncertainty into the outlook for one of the world’s most resource-rich oil producers.
US crude slipped 31 cents to $57.01 a barrel, while Brent crude fell 22 cents to $60.53 a barrel.
The declines came after President Nicolas Maduro was ousted, raising questions about future production, sanctions policy, and foreign investment.
President Donald Trump has signaled that US access to Venezuela’s oil sector is a central objective following the change in government. He said American oil companies could invest billions of dollars to repair damaged infrastructure, while confirming that the US embargo on Venezuelan oil remains in place.
Venezuela holds the world’s largest proven crude reserves at about 303 billion barrels, representing roughly 17% of global reserves, according to US government data.
Output peaked near 3.5 million barrels per day in the late 1990s but has since collapsed.
Current production stands near 800,000 barrels per day, according to industry estimates. Chevron remains the only major US producer operating in the country, exporting about 140,000 barrels per day late last year.
Analysts say the near-term impact on oil prices is uncertain. Production could rise if sanctions are lifted and a US-backed government stabilizes operations.
However, supply disruptions remain possible during any transition period.
Longer term, large-scale US investment could pressure prices by restoring output, though industry executives say recovery would be slow and costly, requiring years of spending and a stable security environment.
