07.01.2026, 04:43
The analyst told how the situation in Venezuela will affect OPEC+
Source: OREANDA-NEWS
OREANDA-NEWS The situation in Venezuela and the increase in oil production there will push OPEC+ to further abandon the reduction of oil production, Kirill Rodionov, an independent energy expert, told RIA Novosti.
According to the analyst, the investments of American oil companies will contribute to an increase in production in Venezuela, which will support the trend towards an increase in oil production in South American countries as a whole.
"This will push the countries participating in the deal to further increase quotas. And, accordingly, quotas will increase gradually in 2026, and possibly in 2027. And, most importantly, this quota increase will be irrevocable. In other words, the situation that happened in 2020, when the OPEC+ countries, having only broken with the deal, sat down at the negotiating table and concluded a new one, will not happen again. This will not happen here," Rodionov said.
In September, the G8 OPEC+ completed an early exit from the existing quotas of voluntary restrictions on 2.2 million barrels per day, which began in April, and in October it began phasing out additional production cuts by another 1.65 million barrels. So, in the fourth quarter, the countries increased the production limit by 137 thousand barrels per day per month, excluding the compensation schedule.
In January-March 2026, it was decided to pause the production increase.
US President Donald Trump said on January 3 that the United States had launched a massive strike against Venezuela, and President Nicolas Maduro and his wife Celia Flores had been captured and taken out of the country. The media reported on the explosions in Caracas and claimed that the operation was carried out by fighters from the Delta Force unit.
According to the analyst, the investments of American oil companies will contribute to an increase in production in Venezuela, which will support the trend towards an increase in oil production in South American countries as a whole.
"This will push the countries participating in the deal to further increase quotas. And, accordingly, quotas will increase gradually in 2026, and possibly in 2027. And, most importantly, this quota increase will be irrevocable. In other words, the situation that happened in 2020, when the OPEC+ countries, having only broken with the deal, sat down at the negotiating table and concluded a new one, will not happen again. This will not happen here," Rodionov said.
In September, the G8 OPEC+ completed an early exit from the existing quotas of voluntary restrictions on 2.2 million barrels per day, which began in April, and in October it began phasing out additional production cuts by another 1.65 million barrels. So, in the fourth quarter, the countries increased the production limit by 137 thousand barrels per day per month, excluding the compensation schedule.
In January-March 2026, it was decided to pause the production increase.
US President Donald Trump said on January 3 that the United States had launched a massive strike against Venezuela, and President Nicolas Maduro and his wife Celia Flores had been captured and taken out of the country. The media reported on the explosions in Caracas and claimed that the operation was carried out by fighters from the Delta Force unit.
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