US and Venezuela Explore New Energy Partnership Amid OPEC Withdrawal Talks

Venezuela is considering leaving the Organization of Petroleum Exporting Countries (OPEC), a move that could weaken OPEC's influence and allow Venezuela to maximize its oil production without quotas.

The idea was discussed during talks between representatives from Caracas and the United States, as part of negotiations on Washington acquiring a stake in Venezuelan oil fields. The US administration is reportedly considering leasing certain fields for up to 100 years.

OPEC quotas do not currently apply to Venezuela, but the country's production has fallen sharply in recent years due to policies under Presidents Nicolás Maduro and Hugo Chávez.