Venezuela, Trump, And OPEC: Is Cheaper Crude Oil On The Horizon?

With Venezuela’s oil slowly returning to global markets, the balance of power in energy markets is shifting. Experts say rising supply—from Venezuela and the wider Western Hemisphere—could put OPEC under increasing pressure. The emergence of an informal US-led energy bloc including Canada, Mexico, Brazil and Guyana may weaken OPEC’s ability to control prices. For oil-importing nations like India, this could be good news, keeping prices in check through 2026. However, uncertainty remains. While OPEC has historically managed supply deftly, US energy policy under President Donald Trump is seen as unpredictable. The coming year could therefore see oil prices shaped less by shortages and more by geopolitics, power plays and shifting alliances in the global energy order.