Oil Stabilizes as Traders Track Venezuela Developments

2026-01-05 10:24 By Agna Gabriel 1 min. read

WTI crude oil futures trimmed most of their early losses to trade around $57.3 a barrel on Monday as investors evaluated the fallout from the US attack on Venezuela and the capture of President Nicolás Maduro.

Although Venezuela holds the world’s largest proven crude reserves, little near-term impact is expected, as production has fallen below 1 million barrels per day, less than 1% of global supply.

Nevertheless, some warn that prices could come under upward pressure later in the year if the US intensifies sanctions on other major producers, such as Iran.

Adding another layer of complexity, Washington is encouraging US oil companies to assist in reviving Venezuela’s energy sector.

Meanwhile, OPEC+ has reiterated its commitment to keep output unchanged in the first quarter.



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