Venezuela’s oil takeover: what happens next

Two days after a US commando raid put Venezuelan President Nicolás Maduro in US custody, markets are still digesting Washington’s pledge to “run” Venezuela and oversee its oil sector.

In this update, attention shifts from the shock event to the implications, as investors weigh sanctions risk, legal uncertainty, and the prospect of US oil majors re-entering the country.

With prices, EM assets, and compliance frameworks in flux, the central question remains unresolved: who controls Venezuela’s oil, and on what terms?