Venezuela in Talks With U.S. Officials Over Possible OPEC Exit

Venezuela is discussing a possible withdrawal from OPEC with U.S. officials, though no final decision has been made, according to the report.

A departure from the oil cartel could pave the way for greater involvement by American and other international energy companies in Venezuela's oil sector. The change would also allow Caracas to raise crude production without being bound by OPEC quota limits, potentially adding further strain to the organization's cohesion.

Venezuela was one of the five founding members of OPEC in 1960 and has long played a symbolic role in the group. Yet its output has declined sharply over the past decade. In July, the country produced roughly 1.16 million barrels of oil per day, less than half the level recorded ten years earlier.

The discussions come as Caracas weighs broader economic and diplomatic openings with Washington against long-standing multilateral energy commitments. Any move to leave OPEC would mark a significant strategic shift for one of the cartel's original members and could further test the unity of its remaining membership.