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Oil markets shrug off US military intervention in Caracas
Bangkok Post
|January 06, 2026
Global crude oil markets revealed little reaction in the immediate aftermath of the US military operation in Venezuela to detain President Nicolás Maduro on Jan 3, says the Thai Energy Ministry.
US President Donald Trump accuses Mr Maduro of heading Venezuela’s Cartel de los Soles criminal network, which he labelled a foreign terrorist organisation, according to media reports.
He also linked the Venezuelan leader to a surge in illegal migrants arriving in the US.
Despite the US invasion, local energy officials downplayed concerns over oil price volatility.
Veerapat Kiatfuengfu, deputy permanent secretary of the Energy Ministry, said Venezuela's current output of 800,000 to 1 million barrels per day represents only about 1% of global supply.
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