US Treasury Secretary Bessent says US will be removing sanctions from some Venezuelan entities; strong interest from independent oil companies and "wildcatters" in swift investments in Venezuela

• The largest oil companies are likely to move slower in Venezuela.

The U.S. Treasury Secretary's announcement to lift sanctions on certain Venezuelan entities signals a potential shift in U.S.-Venezuela relations, opening the door for increased investment from independent oil companies and wildcatters. While this creates opportunities for oil production in Venezuela, the caution expressed by larger oil companies suggests significant operational and political risks remain, which could temper immediate impacts on global supply and prices.