PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 9.Jan.2026, Words: 276) — Venezuela – a founding member of the Organization of Petroleum Exporting Countries or OPEC – is still engulfed in an economic crisis that started way before the COVID-19 pandemic. This crisis continues today despite small and very limited pockets of opportunities.
In the immediate aftermath of US military actions on 3 Jan. 2026 that saw the removal of Venezuela’s leader Nicolàs Maduro, widespread uncertainty surrounds the Caribbean country, which is home to the world’s largest crude oil reserves.
