Hey fam, did you see the recent US military action in Venezuela? 🤯 Despite President Trump’s talk about "managing" a transition, the global oil market is staying cool. Here's the lowdown:
🔹 Venezuela's output is tiny—under 1% of global supply, per OPEC data. Once an oil powerhouse, it's been sidelined by sanctions, underinvestment, and mismanagement.
🔹 Major facilities escaped damage. No hits = no instant supply shock or price spike.
🔹 The International Energy Agency projects a record surplus of about 3.8 million barrels per day later this year. Seasonal demand dips and OPEC+ output boosts are already keeping prices in check.
Bottom line: Even a disruption bigger than Venezuela's current output would be a drop in the bucket for 2026's oversupplied market. So chill—this wave’s more sizzle than tsunami. 🌊🛢️
Reference(s):
cgtn.com
