“Events in Venezuela and threats from Iran: how world oil markets reactTensions in Venezuela and Donald Trump’s statements regarding Iran have provoked expectations of rising oil prices. Venezuelan oil
exports have almost stopped due to the US embargo, which led to a reduction in PDVSA’s production.
”, — write: unn.ua
DetailsDue to sanctions and the blockade of tankers, Venezuelan oil exports fell to 500,000 barrels per day in December, and from January 1, supplies almost completely stopped (with the exception of Chevron). This led to overflowing storage facilities, forcing PDVSA to reduce production and mothball wells.
Venezuela began shutting down oil wells due to US blockade – Bloomberg30.12.25, 23:59 • 10221 view
Donald Trump confirmed that the embargo remains in effect. An additional factor of tension was his threat to intervene in the situation in Iran amid ongoing protests in the country.
Analysts’ forecasts and OPEC+ positionExperts from Capital Economics and Saxo Bank believe that a sharp jump in prices can be avoided due to sufficient supply in the global market. Any disruptions in Venezuela can be compensated by other producers.
Prices may rise slightly due to geopolitical tensions, but sufficient global supply will continue to limit these risks
Against this background, OPEC+ decided to maintain a stable level of production in the first quarter of 2026. Market participants remain cautious, given that 2025 ended with the largest annual losses in oil value since 2020.
Oil prices rose slightly after the largest annual decline since 202002.01.26, 08:35 • 4859 views