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Global Business News

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Global Business / The Economic Times

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Trump's plan to seize, revitalise Venezuela's oil industry faces major hurdles

America is taking charge of Venezuela's oil sector, but that is unlikely to change oil prices immediately. Years of neglect and sanctions have damaged the industry. However, experts believe American companies could revive production. This could lead to lower oil prices in the long run. The political situation remains uncertain for major investments.

4 Jan 2026 5:27 pm