President Maduro’s appeal to oil-rich countries on Sunday exposed how isolated he has become, a Latin American oil expert said, before describing Venezuela as “broke” and drowning in a $150 billion debt burden.
The Venezuelan dictator’s plea came in a letter appealing to OPEC for support, claiming US “direct aggression” was undermining Venezuela’s energy sector and threatening global oil stability.
In a letter to OPEC Secretary General Haitham Al Ghais published by Venezuelan Foreign Minister Yvan Gil, Maduro wrote: “I hope to count on your efforts to help stop this aggression, which is increasing and seriously threatens the balance of the international energy market, both for producing and consuming countries.”
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Nicolas Maduro, the President of Venezuela, during a press conference at the Miraflores Palace in Caracas, Venezuela, on Wednesday, July 31, 2024. (Gaby Oraa/Bloomberg via Getty Images)
“Saudi Arabia is the main player, and they will not want to confront the Trump administration. But more importantly, they will never get involved in this kind of conflict,” he added.
In his plea, Maduro argued that US actions were intended to “destabilize” Venezuela and urged oil-producing countries to show solidarity.
The US imposed sanctions on Venezuela against government officials, state-owned companies such as oil and mining, and financial transactions in response to concerns about corruption, human trafficking and human rights abuses.
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President of Venezuela Nicolas Maduro looks on during a meeting with the ‘Consejo Nacional de Economía Productiva’ (English: National Council for the Productive Economy) at the Humboldt Hotel on September 21, 2023 in Caracas, Venezuela. (Carlos Becerra/Getty Images)
His request followed President Trump’s order to close US airspace over Venezuela, a move that intensified Washington’s pressure campaign and further limited the regime’s ability to do international business.
Still, Monaldi emphasized that Maduro knows his call was only symbolic and that he had “framed” the situation to fit his own narrative on oil.
“Maduro knows very well that he will not get the response he would like, but he is framing the conflict as a conflict over oil,” he argued.
‘Venezuela could once again become a major oil producer, producing around 4 million barrels per day in less than a decade, significantly quadrupling current production.
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Maduro appealed to OPEC and claimed American aggression. (JOE KLAMAR/AFP via Getty Images)
“The country could increase production if the oil sector is fully opened to private foreign investment, and that requires regime change.
Four million barrels of oil per day will be the equivalent of about $90 billion per year in revenues, which is comparable to what Venezuela received in the best of times.
The revenues could allow Venezuela to repay its debt and recover quickly, microeconomically, although it will take years to reach that figure.”
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“Venezuela is now a bankrupt country with a debt burden of $150 billion,” he said.
Tensions further escalated this week after a phone call between President Trump and Maduro, in which Trump said the Venezuelan leader should resign and leave the country, a direct push toward a political transition.
“Regime change is something that the US, if it can achieve, would consider a positive outcome,” Monaldi said.
But he emphasized that Washington’s goals extend beyond energy. Venezuela, he said, has endured years of mismanagement and instability, making the country not necessarily a safe bet.
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President Donald Trump speaks to reporters after speaking to troops via video from his Mar-a-Lago estate on Thanksgiving, Thursday, November 27, 2025, in Palm Beach, Florida. (AP Photo/Alex Brandon)
The broader U.S. priority, he added, is preserving the Western Hemisphere.
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“The US priorities are to preserve the Western Hemisphere as a region where geopolitical rivals are not strong,” Monaldi said.
“The US wants to reduce crime and drug trafficking in the region and reverse the negative impacts that Venezuela has had, which have affected the rest of the Latin American region,” he added.
