The future of billions of barrels of Venezuelan oil allocated to foreign companies under existing agreements is becoming uncertain now.
Following Washington’s capture of President Nicolás Maduro over the weekend, Governments and oil firms are currently monitoring developments closely now.
This dramatic development iss triggering widespread concern across global energy markets as investors and international oil firms reassess the stability.
Venezuela currently holds the world’s largest proven oil reserves, and questions are mounting over who will control the state oil.
Industry experts warn that prolonged uncertainty could disrupt oil production, delay shipments, and impact global supply, which is worrisome too.