Venezuela is analyzing the possibility of exiting OPEC, which could affect the oil cartel.

Venezuela is evaluating a possible withdrawal from the Organization of the Petroleum Exporting Countries (OPEC), which would represent a significant change for the oil cartel, to which the country has contributed for over six decades. Sources close to the matter told Bloomberg that the idea has been discussed with American officials, but no conclusion has been reached.

Such a decision would reflect Venezuela's political realignment, in the context of increased influence from the United States, especially after the ousting of Nicolas Maduro. Discussions between the U.S. and Venezuelan leaders include the possibility of Washington taking a significant stake in Venezuela's oil fields, a move without precedent that could mark a direct U.S. intervention in the economy of another country. Although Venezuela has been a prominent member of OPEC, American sanctions and internal instability have led to a decline in oil production. A potential exit from OPEC could facilitate access for American and international oil companies in the reconstruction of Venezuela's oil industry, in the context of an anticipated increase in the global oil surplus. This would also be a victory for the Trump administration, known for its criticisms of OPEC.