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Oil Prices Fall as Trump Says Venezuela Will Turn Over Up to 50 Million Barrels
Market Intelligence Analysis
AI-Powered
Why This Matters
Oil prices fell in early Asian trade as President Trump's claim of Venezuela releasing 30-50 million barrels of oil added to bearish sentiment, exacerbating concerns of oversupply in the market.
Market Impact
Market impact analysis based on bearish sentiment with 85% confidence.
Sentiment
Bearish
AI Confidence
85%
Time Horizon
Short Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
Oil prices extended losses in early Asian trade on Wednesday as President Trump claimed that Venezuela would be "turning over" between 30 and 50 million barrels of oil. Markets are increasingly seeing the capture of Maduro and growing U.S. pressure on Venezuela as bearish for oil prices, with expectations that more Venezuelan oil will hit an already oversupplied oil market. At the time of writing, West Texas Intermediate was trading at $56.32 a barrel, down 1.42%, while Brent crude had dropped 1.07% to trade just above $60. If Trump's claims…
Original article published by
OilPrice.com
on January 7, 2026.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.