Venezuela Oil
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Firstpost05-02-2026, 13:37

Venezuela Reassures China: Oil Prices Independent of US Influence Amid Maduro Capture

  • Venezuela assured China that its oil prices will be determined by global markets, not US pressure, following President Nicolás Maduro's capture.
  • Ambassador Remigio Ceballos stated in Beijing that Caracas would not comply with US-imposed arrangements on oil pricing.
  • The remarks address concerns after reports of US President Donald Trump considering control over Petróleos de Venezuela SA (PDVSA) and pushing prices down.
  • China, a major buyer of Venezuelan crude, has condemned Maduro's capture and maintains strong bilateral ties with Venezuela.
  • Venezuela also sought to calm investor fears, affirming the security of Chinese and other foreign investments in the country.

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