The Morning Brief Blood for Barrels: Venezuela Seizure, New Oil Wars and the India Angle
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Jan 6, 2026 Sanjeev Choudhary, an expert in energy and oil markets, dives deep into the aftermath of Operation Absolute Resolve, which saw the capture of Nicolás Maduro. They discuss how U.S. sanctions have shifted Venezuela's allegiance to China, impacting global oil flows. Choudhary speculates on how India's Reliance could potentially tap into discounted Venezuelan crude if sanctions ease, while also examining the hesitance of major oil companies to invest in a politically unstable environment. A riveting look at the geopolitical chess game surrounding Venezuela's oil reserves!
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US Ousts Maduro And Claims Control
- The US captured Nicolás Maduro in a Delta Force raid and announced it would run Venezuela for an unspecified period.
- The move revives classic regime-change dynamics tied to control over massive oil reserves and global influence.
Reserves Don't Equal Production
- Venezuela holds the world's largest oil reserves but produces under 1 million barrels per day due to mismanagement and sanctions.
- Unlocking production depends less on reserves and more on investment, governance and sanctions policy.
Venezuela Pivoted Away From The Dollar
- Venezuela shifted from a US supplier to selling mainly to China and others after US sanctions and political tensions.
- Caracas experimented with yuan payments and alternative trading as a challenge to dollar dominance.