In the short term, he said this may cause some volatility in global oil prices, but there is no significant risk of prices rising sharply as global oil supply this year is expected to exceed demand. Aat Pisanwanich, an international economics academic, said the crisis in Venezuela may affect global oil prices and global geopolitical tensions. Regarding oil prices, he said two scenarios are possible. This shift would cause both upward and downward fluctuations in global oil prices, said Mr Aat. However, after a year global oil prices are likely to trend downward, especially as Opec is already producing more oil than the global market requires, he said.

Source: Bangkok Post January 05, 2026 22:41 UTC