US Control Over Venezuelan Oil Raises Global Concerns

On September 7, 2026, concerns escalated regarding the United States’ control over Venezuelan oil, with experts warning that this dominance could destabilize global energy markets. The situation arises amid ongoing sanctions against Venezuela, which have severely impacted its oil production capacity, currently estimated at less than 500,000 barrels per day, down from 3 million barrels in the early 2000s.

The US government, through various sanctions and regulatory measures, has maintained a tight grip on Venezuelan oil exports, significantly affecting the country’s economy and its ability to recover from years of political turmoil. The Venezuelan state-owned oil company, Petróleos de Venezuela, S.A. (PDVSA), is at the center of this crisis, struggling to manage production while facing international isolation and financial constraints.

This development is receiving heightened attention as energy prices fluctuate amidst ongoing global supply chain disruptions and geopolitical tensions, particularly with European nations seeking alternatives to Russian oil following the Ukraine conflict. Observers note that the US’s strategic interest in Venezuelan oil could lead to further complications in diplomatic relations, particularly with nations like China and Russia, who have expressed support for the Venezuelan government.

Looking ahead, analysts predict that unless there is a significant shift in US foreign policy or a resolution to the internal conflicts within Venezuela, the country’s oil production will remain stunted. International oil markets could face volatility, and the geopolitical landscape in Latin America may shift as countries reassess their energy dependencies and alliances.

Source: The Star