Venezuela holds one-fifth of the world’s crude oil reserves
World’s largest proven crude oil reserves in 2024
Illustration: Ashrafun Naher Ananna/TBS Creative
The United States has been escalating pressure on Venezuela for months, from Trump's ultimatum demanding that President Nicolás Maduro leave with his family to warnings interpreted as preparations for military action. On 10 December, the US seized a sanctioned oil tanker off the coast of Venezuela, a move that might push oil prices higher and sharply escalated tensions between Washington and Caracas.
Source: The Organization of the Petroleum Exporting Countries (OPEC)
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