A U.S.-led effort to remove Venezuelan president Nicolás Maduro could ultimately expand global oil supply rather than destabilize it, a Bloomberg columnist claimed in an op-ed. He argued that Venezuela's underused reserves represent one of the few substantial levers left to reshape long-term energy markets.
"Despite sitting atop the world's largest oil reserves," wrote Bloomberg's Javier Blas, "it's a sad truth that Venezuela doesn't matter for the energy markets." Production remains near its lowest level in a century, at roughly 1 million barrels a day—about 70% below its late-1990s peak. The country today contributes just 0.9% of global supply, down from 11% in 1965.
