Venezuela Considers OPEC Exit Amid US Oil Reserve Deal

Venezuela is considering an exit from OPEC (Organization of the Petroleum Exporting Countries), which could strengthen the US's hold on oil. Jayant Dasgupta, a former Indian Ambassador to the WTO (World Trade Organization), spoke exclusively to News9Live about this development.

According to Dasgupta, Venezuela had followed a certain policy under Maduro, resulting in large oil production but not benefiting the country. The US is looking to secure Venezuela's oil reserve, which could provide an advantage to the country and help its people.

However, Dasgupta pointed out that recent developments have pushed the Venezuelan government into a corner, forcing them to negotiate with the US. He believes this may not be in Venezuela's best interest when the final agreement is done.