If Venezuela becomes a major oil producer again, ‘that could cement lower prices’ long term and put pressure on Russia, analyst says

President Donald Trump’s plan to take control of Venezuela’s oil industry and ask American companies to revitalize it after capturing President Nicolás Maduro in a raid isn’t likely to have a significant immediate impact on oil prices. Venezuela’s oil industry is in disrepair after years of neglect and international sanctions, so it could take years and major investments before production can increase dramatically. But some analysts are optimistic that Venezuela could double or triple its current output o ...