Kathmandu. The US action against Venezuela has sparked a global outcry over its crude oil. The geopolitical situation remains unstable.
The attack on the Latin American country Venezuela will affect the whole world including India. Currently, there is confusion about the political leadership in Venezuela. There is no clarity about the internal situation in the country.
Many countries of the world have been importing oil from Venezuela, the land of crude oil reserves. However, the situation has changed significantly over the past decade.
Venezuela produced 900,000 barrels of oil per day in 2025. That’s 1% of the world’s oil supply. Therefore, if Venezuela’s oil supply is disrupted, the price of crude oil is bound to rise. This will create more difficulties for countries that buy most of their oil from abroad. –Agency
