U.S. Intervention in Venezuela: Energy Market Dynamics and Global Implications

The U.S. removal of Venezuelan leader Nicolas Maduro has implications for global energy markets. With the U.S. and Venezuela potentially controlling a significant portion of oil reserves, Hungarian Prime Minister Viktor Orban foresees benefits for Hungary. This move also reflects shifting relationships within global energy politics.

The recent U.S. operation to remove Venezuelan leader Nicolas Maduro is expected to positively influence global energy markets, according to Hungarian Prime Minister Viktor Orban. The combined oil reserves of the U.S. and Venezuela could account for up to 50% of global supplies, Orban stated on Monday.

This marks the largest U.S. military intervention in Latin America since the 1989 invasion of Panama. U.S. Special Forces detained Maduro in Caracas and brought him to New York to face drug charges. U.S. President Donald Trump, an ally of Orban, has shown interest in Venezuela's oil resources.

Despite Hungary's controversial import of Russian energy, it is diversifying its suppliers. Recently, a substantial LNG supply deal was made with U.S. company Chevron. Orban anticipates a potential stabilization of the global energy market, which could benefit Hungary economically.

(With inputs from agencies.)