Venezuela Crisis: What Does US Entry In Caracas Means For Oil Prices And India

Venezuela’s vast oil, gas and critical mineral reserves are once again placing it at the center of global energy geopolitics. Energy expert Narendra Taneja says recent US actions have not triggered any immediate reaction in crude prices, offering relief to oil-importing countries like India. However, he warns that the real impact lies in the medium to long term. With American companies expected to invest and scale operations, Venezuela’s oil production could rise sharply over the next two to three years, potentially reaching 2.5 to 3.3 million barrels per day. Such an increase would add a significant new player to global oil supply, putting downward pressure on crude prices. For India, an energy-deficit economy, this development could ultimately translate into a positive outcome by easing import costs and improving energy security.