Venezuela, one of the founding members of OPEC, is now considering leaving the organization. This was reported by Bloomberg, citing sources who indicate that Washington is ready to support this decision:
Venezuela produces about 1.117 million barrels of oil per day, but its output has significantly decreased in recent years due to sanctions, lack of investment, and economic turmoil:
If Venezuela were to leave OPEC, it would be a significant loss for the organization, as it is one of its founders:
Additionally, U.S. and Venezuelan officials are discussing how American companies can take a more active role in Venezuela's oil sector:
