Venezuela Braces for Major Protests, but Energy Markets Unfazed

Venezuela Braces for Major Protests, but Energy Markets Unfazed

July 31, 2024--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Major protests are planned across Venezuela on Tuesday as both the opposition and incumbent President Nicolas Maduro claimed victory in a nation that helped found the Organization of the Petroleum Exporting Countries (OPEC), but since has faded from the global oil sector.

Maduro claimed another term as the head of the Venezuelan government over the weekend, though opposition leader Edmundo Gonzalez and his supporters believe they won the contest with a majority of the votes. Backers of the opposition are calling on Maduro to release detailed polling results to confirm his claims to victory.

Companies featured: Exxon Mobil Corporation (NYSE:XOM)

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