Despite the turmoil among OPEC+ members, oil production remains stable, and oil prices fall despite Venezuela
Oil prices fell on Monday as sufficient global supply offset concerns about supply disruptions following the US arrest of Venezuelan President Nicolas Maduro in a raid over the weekend.
Brent crude futures fell 21 cents, or 0.4%, to $60.54 a barrel as of 04:52 GMT, while WTI crude fell 28 cents, or 0.5%, to $57.04 a barrel.
Capital oil prices fluctuated at the open of Asian markets; they briefly rose after a low opening, but gave back gains and fell again as investors assessed the political turmoil in the OPEC member country and its impact on oil supply.
After detaining Maduro, Trump said Washington would take control of the oil-producing country and that the US embargo on all Venezuelan oil remained in full force.
In a global market with ample oil supply, analysts noted that a disruption in Venezuelan exports would have little short-term impact on prices.
Depending on how the US sanctions policy develops, oil prices originating from Venezuela remain uncertain in the short term, with modest risks, and 2026 oil price forecasts remain unchanged.
The US attack on Venezuela to capture President Maduro did not inflict any damage on the country's oil production and refining industry. The US, through its action, has effectively seized control of Venezuela's entire oil industry. Completely lifting sanctions could unleash hundreds of thousands of barrels of daily production.
Trump said on Sunday that the US could launch a second military attack on Venezuela if the remaining members of his administration do not cooperate in efforts to "fix" the country. Likewise this chaotic power shift scenario similar to what happened in Libya or Iraq, everything becomes uncertain.,
The Organization of Petroleum Exporting Countries and its allies, collectively known as OPEC+, decided on Sunday to stick to their production schedule.
Trump also raised the possibility of further U.S. military intervention in Latin America, suggesting that Colombia and Mexico could face military intervention if they do not reduce the flow of illegal drugs into the U.S.
Trump is also monitoring Iran's reaction to his threat to intervene in suppressing protests in the OPEC producer Iran, further increasing geopolitical tensions.
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