Washington could gain access to 90 billion barrels of oil reserves, while Caracas is weighing an OPEC exit
The US is moving to lock in long-term access to the world’s largest proven crude oil reserves by discussing a 100-year deal with Venezuela, as Caracas plans to leave the Organization of Petroleum Exporting Countries (OPEC), several outlets have reported.
The idea of quitting OPEC has been discussed during talks with US officials, according to Bloomberg’s sources, although no final decision has been made.
Venezuela was one of five countries that founded OPEC in 1960, alongside Iraq, Iran, Saudi Arabia, and Kuwait. It has effectively…
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