Chennai, Jan. 6 -- There will not be much of an impact on the global oil market due to the recent US strikes on Venezuela, stated former Chief Economic Adviser Arvind Subramanian in a conversation with ANI.

Reacting to the developments, Subramanian said that he was not aware of the specific details of the US action. However, he added that prevailing market opinion suggests limited consequences for oil prices.

"I know nothing about it, but the only thing I can say is that people say there won't be much of an impact on the oil market," he said, indicating that the situation is unlikely to disrupt oil supply or pricing in a significant way.

In a major military operation over the weekend of January 3-4, 2026, the United States captured Ven...