11:24 - 28.08.2026

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August 28, Fineko/abc.az. Venezuela is evaluating whether to withdraw from OPEC, the oil cartel it helped found over six decades ago, according to sources familiar with the matter. The proposal has been raised in discussions with U.S. officials following political shifts in Caracas after the removal of Nicolas Maduro under President Donald Trump's administration. Negotiators are also discussing potential deals that could involve leasing several Venezuelan oil fields to U.S. interests for 100 years.

Meanwhile, Goldman Sachs reports that oil exports from the Persian Gulf have recovered to about two-thirds of pre-war levels, reaching 15–16 million barrels per day. The recovery in shipments through the Strait of Hormuz is helping limit the impact of the Iran conflict on global crude prices.