Jakarta, Jan. 6 -- The Ministry of Energy and Mineral Resources (ESDM) assesses that the ongoing conflict in Venezuela has no significant impact on global oil prices or international oil trade.

ESDM spokesperson Dwi Anggia told ANTARA on Tuesday that while Venezuela holds the world's largest oil reserves, its average production remains below 1 million barrels of oil per day. This figure, she said, is relatively small compared to the size of its reserves.

Conditions in Venezuela differ from those in the Middle East, Anggia noted. Conflicts in the Middle East tend to make oil prices highly volatile, as the region is home to many OPEC (Organization of the Petroleum Exporting Countries) member states.

"As a result, oil prices can become ve...