According to CoinMeta, and as reported by Bloomberg, Venezuela is in discussions with U.S. officials about withdrawing from OPEC, but no final decision has yet been made. U.S. officials envision establishing a powerful oil nation through an alliance between the United States and Venezuela in order to weaken OPEC's influence. Venezuela is currently not subject to OPEC production quotas, and withdrawing from OPEC could exempt it from future production quotas, allowing it to increase production and drive down oil prices. The United States would also advance plans targeting Venezuelan oil.