Venezuela Weighs OPEC Exit After 60 Years as US Partnership Deepens
Updated
Updated · Bloomberg · Aug 29
Venezuela Weighs OPEC Exit After 60 Years as US Partnership Deepens
3 articles · Updated · Bloomberg · Aug 29
Summary
Venezuela is discussing whether to leave OPEC, according to people familiar with the matter, in a move that would hit a cartel it helped found more than six decades ago.
Talks about a possible exit have surfaced in conversations with US officials as Caracas deepens its partnership with Washington, though no final decision has been made.
A withdrawal would mark a sharp geopolitical and energy-policy shift for one of OPEC’s original members, adding pressure on the producer group’s cohesion.