Changes in Venezuela lowered oil prices
On January 6, a decline in oil prices was observed in the global market. This was reported by Zamin.uz.
This was reported by the "Reuters" news agency. The price drop was caused by information that oil production volume in Venezuela is expected to increase.
Specifically, the price of Brent crude oil fell by 0.2%, reaching $61.62 per barrel. The US WTI crude oil price also decreased by 0.3%, dropping to $58.15.
This was reported by the "Kursiv.uz" publication. According to analysts, news about the arrest of Venezuelan President Nicolas Maduro could put additional pressure on the market.
According to "Reuters," the US President Donald Trump's administration plans to meet with representatives of American oil companies to discuss increasing oil production in Venezuela. In December, market participants predicted that in 2026 oil prices would be under pressure due to increased supply and decreased demand.
Venezuela is one of the countries with the largest oil reserves in the world, with approximately 303 billion barrels of reserves. However, due to a lack of investments and international sanctions, the country's oil sector has remained in crisis for years.
In 2025, the average daily production volume was 1.1 million barrels. Experts emphasize that if political stability is ensured in Venezuela and investment flows increase, oil production could rise by another 500 thousand barrels per day within the next two years.
