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Oil production capacity

Oil production capacity - Venezuela oil - Strategic oil reserves - Oil markets - Global oil trade - Energy security - Strait of Hormuz

The world's oil is not always where the power lies

From Venezuela's vast reserves to the Strait of Hormuz and Europe's dependence on American diesel, the events of 2026 reveal how control over oil depends on far more than geological wealth.

By The Beiruter
Oil production capacity - Oil reserves - Venezuela oil - Saudi Arabia oil - Global energy markets - Gulf oil producers

Venezuela vs. other petro-states: The paradox of oil wealth

Despite vast oil reserves, countries like Venezuela struggle to convert resources into influence, while Gulf producers use production capacity and governance to shape global energy markets.

By Michella Rizk