With US rapprochement, Venezuela evaluates leaving OPEC after 60 yearsPhoto by Alex Dos Santos on Pexels
PoliticsCoimbra

With US rapprochement, Venezuela evaluates leaving OPEC after 60 years

oglobo28 August 2026 at 00:34

Venezuela is evaluating leaving the Organization of the Petroleum Exporting Countries (OPEC) after 60 years of participation, according to people familiar with the matter. The possibility would represent a new blow to the oil cartel the country helped create more than six decades ago. The information was confirmed by anonymous sources, and no final decision has been made yet.

The possibility of Venezuela's withdrawal has been discussed in conversations with United States authorities. A White House spokesperson did not immediately comment, and Venezuela's Ministry of Information did not respond to requests for comment on the matter.

The measure would illustrate the broad political realignment in Caracas since US President Donald Trump ousted Venezuelan leader Nicolás Maduro and took control of the country's oil sales. This move represents a significant shift in the relationship between the two countries.

Just four months ago, the United Arab Emirates announced it would leave OPEC, threatening the group's unity and its influence over oil prices. Separately, the United States is negotiating an agreement related to the issue.

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