Venezuela Weighs Exit from OPEC Amid Talks with Washington

Venezuela is considering leaving the Organization of the Petroleum Exporting Countries (OPEC) after holding talks with U.S. representatives.

The move, if implemented, would be a significant shift in Caracas's foreign policy course and further weaken OPEC's influence over global price formation.

Negotiations between Venezuelan authorities and U.S. entities are also underway to grant long-term leases or stakes in the country's key oil fields, including options for up to 100-year leases.