Goldman Sachs said any recovery in Venezuelan oil production will be gradual and incomplete due to aging infrastructure and the need for large new investments. Long-term increases in production in Venezuela, combined with rising supply from Russia and the US, will pose a downside risk to global oil prices starting in 2027.

Goldman Sachs said any recovery in Venezuelan oil production will be gradual and incomplete due to aging infrastructure and the need for large new investments. Long-term increases in production in Venezuela, combined with rising supply from Russia and the US, will pose a downside risk to global oil prices starting in 2027.