Venezuela discusses exiting OPEC amid efforts to deepen ties with the United States.

According to sources, Venezuela is seriously reviewing plans to exit OPEC. Discussions regarding the withdrawal have been held with U.S. officials, though no final decision has been made. Some U.S. officials envision building a "petro superpower" through an alliance between the U.S. and Venezuela, which would significantly weaken OPEC's influence. Another source familiar with the matter said that despite Venezuela's oil production plummeting sharply in recent years, the country is currently not subject to OPEC's output limits. However, exempting Venezuela from any potential future production quotas would help it maximize output in the long run, thereby lowering oil prices, while the U.S. would also be able to advance its plans for Venezuelan oil. (Bloomberg)