How US Strike On Venezuela May Impact Oil Prices, Supply And Global Markets

Venezuela’s state-run oil company PDVSA said its production and refining activities were running normally on Saturday. Global oil markets are closely tracking developments in Venezuela after the United States said it had “captured” President Nicolás Maduro in a military operation, raising concerns about possible disruptions to crude supply from the oil-rich nation. Venezuela has some of the world’s largest proven oil reserves. However, its impact on global oil prices has remained limited in recent years because exports have been restricted by long-standing US sanctions. For now, international crude prices have stayed relatively steady, hovering near the $60-a-barrel level despite the…