Venezuela is considering a departure from OPEC after discussing the move during talks with American officials, according to sources close to the situation.
An expert at the Financial University under the Government of the Russian Federation and the National Energy Security Fund, Igor Yushkov, warned in an interview with NSN that any exit by Venezuela would lead to the collapse of the organization.
Yushkov stated that a Venezuelan departure would benefit the United States, as Washington seeks to demonstrate to global markets that it can compensate for missing Middle Eastern crude supply.
He noted that a withdrawal by Venezuela risks unraveling the wider OPEC+ agreement as well. He recalled that the United Arab Emirates recently left the organization, creating friction over production quotas among remaining members.
Yushkov explained that after the exit of the United Arab Emirates, other member states began questioning why one nation could leave the agreement to produce at maximum capacity while others were forced to restrict output. He said internal discipline within the OPEC+ framework is already suffering, adding that the exit of another country, such as Venezuela, could deal a fatal blow to the organization.
Impact on global oil alliances
Sources close to the matter disclosed that Venezuelan officials discussed leaving the oil cartel during discussions with United States representatives. However, an ultimate decision on whether to formally withdraw has not yet been finalized.
The Organization of the Petroleum Exporting Countries, established in 1960, is an intergovernmental producers cartel created to coordinate crude production and stabilize global energy pricing. Venezuela, located in South America, holds the world's largest proven crude reserves and was one of the founding members of the group.
The broader OPEC+ alliance was formed to include non-cartel oil producers, including Russia, to enforce synchronized output caps across global markets. The Financial University under the Government of the Russian Federation is a public research university located in Moscow, while the National Energy Security Fund is a Russian analytical center specializing in energy sector policy and market dynamics.
Future of crude production discipline
The United Arab Emirates, a major Arabian Peninsula oil exporter, had operated as a key member within the alliance prior to its departure. Washington's ongoing engagement with Caracas comes as energy markets monitor potential shifts in international crude supply chains.
No official timetable has been announced for when Venezuelan leadership will reach a final determination regarding its membership in the producers group.
