Venezuela is weighing plans to leave OPEC after decades of membership, according to people familiar with the matter. The potential move would mark a significant shift for a country that helped shape the cartel more than six decades ago. Several reports frame the consideration as a development that could weaken OPEC’s influence.
The outlets link the decision to Venezuela’s evolving relationship with the United States and changes affecting its oil sector. NDTV says Venezuela’s negotiating posture reflects the impact of U.S. sanctions and domestic turmoil, which have reduced the country’s petroleum industry capacity and leverage. Bloomberg also connects the discussion to deepening U.S. engagement around oil-related arrangements.
One outlet adds political context, describing a broader realignment in Caracas following the removal of President Nicolás Maduro by the United States and the shift in who controls Venezuela’s oil sales. Other coverage emphasizes the strategic and market implications for OPEC, rather than detailing specific political events, but all describe Venezuela as reconsidering its OPEC role amid U.S.-linked developments.
