World oil prices fall despite Maduro's detention due to global oversupply
Kyiv • UNN
World oil prices fell on January 5, despite geopolitical tensions following the detention of Venezuelan President Nicolas Maduro. The market remains stable due to an oversupply of global crude oil reserves.
Oil prices fell on Monday, January 5. Despite geopolitical tensions following the detention of Venezuelan President Nicolas Maduro by US forces, the market remains stable due to an oversupply of global raw material reserves. This is reported by Reuters, writes UNN.
Details
As of Monday morning, Brent crude futures fell by 0.4% to $60.54 per barrel. American West Texas Intermediate (WTI) crude fell by 0.5%, settling at $57.04.
Volatility was observed at the beginning of Asian trading: prices briefly rose amid news from Caracas, but then fell again. Investors are assessing the risks in the OPEC member country, but state that the available global capacities are able to fully compensate for possible disruptions in Venezuelan exports.
US position and analysts' forecasts
President Donald Trump said that the United States would take control of Venezuela's oil industry to restore it, but the current embargo remains in force. Currently, Venezuela produces less than 1% of the total global oil volume, which limits its impact on the market in the short term.
Goldman Sachs analysts, in their report of January 4, left their 2026 forecasts unchanged, noting that the impact of events in Venezuela would be moderate.
We see mixed but moderate risks to oil prices in the short term from Venezuela, depending on how US sanctions policy develops.
In the long term, the possible return of Venezuelan barrels to the market with the help of American investments could create additional downward pressure on prices.
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