New Delhi, Jan. 4 -- Veteran energy expert warns WTI may plunge as Trump administration taps Venezuela's oil amid global oversupply.

WASHINGTON - The Trump administration's aggressive move to tap Venezuela's vast oil reserves has sent shockwaves through global energy markets, with US crude potentially tumbling into the low $50 per barrel range, according to veteran energy analyst John Kilduff.

US West Texas Intermediate (WTI) crude has been on a precipitous decline since mid-2025, sliding from a June high of over $78 per barrel to under $58 at December's close. The sudden dip follows global oil glut and OPEC's production strategy, with the cartel boosting output by nearly 3 million barrels per day in pursuit of market share, rather than...