US oil majors could be making a comeback in Venezuela. The signal just got clearer as the administration flags a potential shift in energy policy toward the Latin American nation. We're talking serious capital—potentially billions—waiting to flow back into Venezuelan energy infrastructure.

But here's the catch: none of it happens unless governance actually stabilizes on the ground. Political uncertainty and institutional reliability are the gatekeepers here. Without that foundation, even the most attractive investment thesis stays on paper.

What's interesting from a macro angle is how this could reshape energy markets globally. Venezuela sits on massive reserves, and if production ramps up, it affects commodity pricing, inflation dynamics, and broader investment portfolio positioning. For folks tracking geopolitical risk and its ripple effects on markets, this is worth monitoring closely.