Venezuela accuses U.S. of seeking oil control

Venezuela accuses U.S. of seeking oil control
Reuters

Venezuela has accused the U.S. of attempting to seize the country’s vast oil reserves through military force, in a move the government says could destabilise the global energy market.

The claim was made public by Venezuelan Vice President and Minister of Hydrocarbons, Delcy Rodriguez, during a virtual OPEC meeting, where she warned that such an act would threaten Venezuela’s sovereignty and its natural resources.

Venezuelan oil production has stabilised at around 1.1 million barrels per day this year, less than a third of its peak in the late 1990s, with over 80% of exports sent to China between June and October.

The U.S., under President Donald Trump, has increased its military presence in the Caribbean and indicated willingness to hold talks with President Nicolas Maduro, whose government has struggled to attract foreign investment amid U.S. sanctions.

Rodriguez emphasised Venezuela’s determination to defend its resources, saying the country would not yield to any threats or pressure, while calling on OPEC members to help counter the alleged aggression.

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