Venezuela holds roughly 300B barrels of oil, the largest reserves globally, around 18% of total supply.
That’s nearly 9x the reserves of the U.S.
At ~$58 per barrel, that equates to ~$17.4T in oil.
Even at half that price, it’s still ~$8.7T.
In a very short window, effective control shifted over resources worth more than half of U.S. GDP and more than the combined GDP of Germany, Japan, India, and the UK.
This isn’t a political take. It’s about scale and market implications.
Oil markets open Sunday at 6:00 PM ET. Will be watching closely.