Venezuela Considers Leaving OPEC in Blow to Oil Cartel

• OPEC is losing members, weakening its collective power and Saudi Arabia's de facto leadership.
• The importance of OPEC and OPEC+ is waning, especially with the rise in US shale oil production.
• Increased US oil and product exports are helping to make up for supply gaps, and potential US stakes in Venezuela's oil fields could further increase US influence.

Venezuela is considering leaving OPEC, which would be a fresh blow to the oil cartel's influence, following other members like the UAE. This, coupled with the rise in US shale oil production and potential US involvement in Venezuelan oil fields, is diminishing OPEC's ability to dictate global oil markets and could reshape oil politics.