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What the US strike on Venezuela could mean for global oil prices

By Adi Imsirovic, Lecturer in Energy Systems, University of Oxford

The capture of former Venezuelan president Nicolás Maduro by the US intelligence services and armed forces has resulted in a frenzy of speculation about its consequences. But there is no doubt that the events were closely linked to the oil riches of the country. While the political situation in Venezuela remains fluid, there is far more certainty about its position as an oil producer.

For a start, Venezuela has one of the highest proven oil…

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