Crisis In Caracas

September 5th, 2025:Turmoil around Venezuela heightens market uncertainty Venezuela is never far from the news, especially in the United States. Its close proximity and status as a major oil producer made the country one of the largest crude oil suppliers to the United States. Until 1999, when Hugo Chavez came to power, the U.S. and Venezuela had a mutually beneficial relationship with close economic and diplomatic cooperation. This relationship shifted dramatically under Hugo Chavez who adopted socialist policies and took anti-US positions. He nationalized oil assets and established close alliances with adversaries of the U.S., such as Cuba and Iran. The relationship between the U.S. and Venezuela became one of deep distrust, sanctions, and near hostility. This downward trajectory continued under Chavez’s handpicked successor Nicolás Maduro. The Trump administration has dramatically increased the pressure on the Venezuelan regime in recent weeks, and this could have implication for the oil and tanker markets. We’ll discuss some possible scenarios in this week’s Tanker Opinion. Please fill in below form to continue read.