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Venezuela said to weigh OPEC exit after more than 6 decades

Aug 28, 2026, 4:18 AM ETState Street Energy Select Sector SPDR ETF (XLE), OILK, GUSH, DRIP, UCO, SCO, USOI, USL, BNO, DBE, DBOBy: Jessica Kuruthukulangara, SA News Editor
Oil pump on the background of the flag of Venezuela.

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Venezuela is considering possibly exiting the Organization of the Petroleum Exporting Countries, the oil cartel that it helped create in 1960, people familiar with the matter told Bloomberg News.

While no final decision has been made, Venezuela is said to have discussed

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