U.S. President Donald Trump said on Wednesday that he believes it would be better for Venezuela to remain in the Organization of the Petroleum Exporting Countries (OPEC), but added that he is unsure whether that would be in the best interests of the United States.
In an interview, Trump said Venezuela’s continued participation in the oil-producing cartel would be “better for them,” while stressing that Washington has not discussed the issue with Caracas.
“I don’t know that it’s better for us … but they are a member of OPEC, and we haven’t discussed that with them at all,” Trump said.
Venezuela, a founding member of OPEC, holds some of the world’s largest crude reserves but has suffered a sharp decline in output in recent years amid economic crisis and international sanctions.
The Trump administration has moved to assert control over Venezuela’s oil sector following the ouster of President Nicolás Maduro earlier this month, saying it intends to oversee the country’s oil resources on a long-term basis as it seeks to rebuild the industry and maintain pressure on authorities in Caracas.
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