Venezuela urges OPEC+ to adopt a new strategy in response to sanctions, volatile prices, and the global energy transition. President Maduro’s proposal seeks to protect oil-producing nations and ensure market stability, emphasizing multilateral governance and solidarity among the Global South.

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Caracas, June 12, 2025 — In a world marked by escalating trade wars, unilateral sanctions, and a politicized energy transition, Venezuela has taken a decisive step by proposing a comprehensive strategic overhaul for the Organization of the Petroleum Exporting Countries and its allies (OPEC+).

President Nicolás Maduro has formally called on member states to rethink the organization’s approach, aiming to shield oil-producing nations from the destructive cycles of market volatility and external aggression.

The global oil market stands at a crossroads. Unilateral sanctions,chiefly from the United States and its allies,have not only targeted Venezuela but also disrupted the broader supply chain, forcing buyers to seek alternative and often opaque channels for crude.

Meanwhile, the so-called energy transition, largely dictated by Western interests, is being used as a geopolitical tool rather than a genuine effort toward sustainability, threatening the development models of the Global South.

In this context, Venezuela’s proposal is not an isolated act but a necessary response to a system that increasingly marginalizes producer nations and undermines their sovereignty.

Maduro’s Proposal: Anticipating Crisis, Defending Sovereignty

President Maduro’s recent communication to OPEC+ leaders is clear: the organization must anticipate market disruptions rather than react to them. As investigative outlet Misión Verdad highlights, the Venezuelan initiative “does not seek to disrupt the market with abrupt interventions, but rather to anticipate its movements and protect it from destructive cycles”. This approach is rooted in the lessons of 2014, when the unchecked rise of U.S. shale oil sent prices plummeting below $30 per barrel, devastating economies across the Global South.

Today, with Brent crude hovering below $65 and projections warning of further declines, the risk is acute. Prices below $60 per barrel threaten not only the fiscal health of producer nations but also the very sustainability of their development models.

Oil market stability allows producers, investors, and consumers to plan effectively, supporting global energy security and economic development. pic.twitter.com/qqhL7AYoY3

— OPEC (@OPECSecretariat) June 10, 2025

OPEC+: The Need for Multilateral Governance

OPEC+, born from the need to counteract the price crisis triggered by U.S. shale oil, has proven its value as a platform for cooperation among producers from the Global South and beyond. However, the current environment—marked by sanctions, investment restrictions, and the weaponization of energy policy—demands a deeper transformation.

Venezuela’s call is for a new multilateral governance model:

Stricter compliance mechanisms to ensure production quotas are respected

Technical and financial cooperation for joint investments

A unified defense of oil’s strategic value against external pressures and market manipulation

As OPEC Secretary General Haitham Al Ghais recently emphasized, maintaining balance between supply and demand will require annual investments of $650 billion until 2050,a goal achievable only through active, collective strategy.

Recent OPEC+ reports reveal persistent issues with quota compliance. While Saudi Arabia has marginally increased output, other key members like Iraq and the UAE have struggled to meet targets, often due to structural constraints and the lingering effects of past overproduction. This lack of coordination not only weakens the organization’s credibility but also exposes member states to the whims of external actors and speculative markets.

The consequences of prolonged low prices are dire: reduced investment capacity, fiscal crises, and potential political instability across entire regions. Goldman Sachs projects Brent could fall to $60 in 2025 and $56 in 2026, a scenario that would exacerbate existing vulnerabilities in the Global South.

Venezuela’s initiative is fundamentally a call for solidarity among oil-producing nations. The proposed redesign of OPEC+ strategy aims to balance national interests with the collective need for effective governance and crisis prevention. It is a rejection of the status quo, where Western powers dictate terms and the Global South bears the consequences.

As Misión Verdad concludes, “redesigning the OPEC+ strategy means rebalancing national interests with the need for more effective multilateral oil governance and crisis anticipation mechanisms”. The path forward is clear: only through unity, strategic foresight, and the defense of sovereignty can oil-producing nations secure their future in an increasingly hostile global environment.

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