U.S. capture of Nicolás Maduro raises questions about oil and global order

U.S. forces captured Nicolás Maduro in Venezuela this weekend, an audacious seizure that officials and business leaders say could redraw the global order and alter access to Venezuela’s oil and mineral resources. Global markets moved only modestly, with U.S. oil giants such as Chevron and Exxon Mobil rallying in premarket trading on prospects of renewed access to Venezuelan petroleum.

Chevron said only that it “continues to operate in full compliance with all relevant laws and regulations.” President Trump has said the United States would “run” Venezuela, even as Secretary of State Marco Rubio suggested Washington would exert leverage rather than administer the country directly; how any U.S.

role would work remains unclear. World leaders expressed concern about the legality of the seizure, the outlet said, and Delcy Rodríguez, Venezuela’s interim leader, has taken a more conciliatory tone toward the U.S. Venezuela’s oil industry faces deep challenges. The country is said to have about 300 billion barrels of proven reserves, but output has fallen to about 900,000 barrels a day from about 3.5 million barrels a day in 1997.

About one-third of that output is currently pumped by Chevron.

Key Topics

World, Nicolás Maduro, Venezuela, Chevron, Exxon Mobil, Oil Reserves