Venezuela Weighs Leaving OPEC Amid US Talks Over Oil Fields

Venezuela is considering leaving OPEC, an organization it helped found over 60 years ago.

The decision was reportedly discussed during talks with US representatives, although no final decision has been made in Caracas yet.

Venezuela's influence within OPEC has weakened significantly due to US sanctions and domestic crisis, which have heavily impacted the country's oil and gas sector.

In July, Venezuela's oil production stood at around 1.16 million barrels per day, less than half the level of a decade ago.