Oil dips as Venezuela shock meets ample supply

Oil prices edged lower as markets reacted to the capture of Venezuelan President Nicolas Maduro, against a well-supplied market.

Transcript

00:00Welcome back. Oil prices slipped on Monday as markets reacted to the capture of Venezuelan

00:05President Nicolas Maduro by U.S. forces. Branded crude is down 0.8 percent to just above $60 a

00:13barrel. U.S. crude is also lower, down 0.9 percent to nearly $57 a barrel. Traders are weighing the

00:22risk of supply disruption against a market that is already well-supplied. Most analysts say the

00:28developments in Venezuela are unlikely to cause a major jump in oil prices. Venezuela produces just

00:35about 1 percent of the world's oil. Even if politics stabilize, getting production back up

00:41would take years, not months. President Donald Trump has said the U.S. wants to tap Venezuela's

00:47vast oil reserves, calling for American companies to invest and help repair the country's damaged

00:53oil industry. But experts warn that rebuilding would cost billions of dollars and could take

00:59up to a decade to make a real difference. Oil prices were also pressured after OPEC Plus decided

01:06to keep output levels unchanged for the first quarter of 2026.