Brief by Shorts91 Newsdesk / 11:30am on 04 Jan 2026,Sunday International
US President Donald Trump has said Washington will take control of Venezuela’s oil sector after the capture of President Nicolás Maduro. Venezuela holds the world’s largest oil reserves but produces less than one percent of global supply. Experts say it will take years and large investment to repair damaged fields and lift output. Oil markets are well supplied, so prices are not expected to rise soon. For India, the impact is limited as refiners do not buy Venezuelan crude at present. However, if sanctions ease, Indian firms could return to the country and recover stuck investments. Analysts say any price effect would be seen only in the long term. (PC: The Indian Express)
