""While many are reporting Venezuela's oil infrastructure was unharmed by U.S. military actions, it has been decaying for many many years and will take time to rebuild," said Patrick De Haan, who is the lead petroleum analyst at gasoline price tracker GasBuddy."
""But if it seems like the U.S. is successful in running the country for the next 24 hours, I would say there would be a lot of optimism that U.S. energy companies could come in and revitalize the Venezuelan oil industry fairly quickly," said Phil Flynn, a senior market analyst at the Price Futures Group."
"Speaking to reporters on Air Force One on Sunday, Trump said oil companies are "going to go in and rebuild this system.""
Venezuela's oil industry is in disrepair after years of neglect and international sanctions, preventing a rapid increase in production. Current output is about 1.1 million barrels a day, far below historic levels, and significant investment and time would be required to restore capacity. Some analysts believe output could double or triple if conditions stabilize and companies invest. American energy firms will require a stable regime before committing large capital. Short-term impacts on global oil prices are expected to be limited because Venezuela's production is already accounted for within OPEC totals.
Read at Fast Company
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