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Venezuela’s growing ties with china and its looking for oil markets outside America, can go against American interest. Hugo Chavez, Venezuelan president has made it very clear that there is no love lost between America and Venezuela. So much so that he made a public statement saying, he will pull out of the American markets as soon as he gets a market, more promising than the American one.

Venezuela supplies the United States with 13% of its oil, making it the closest major supplier. For quite some time Venezuela has been looking to foster new trade relations, in particular with China and Russia, in order to break dependency on the United States. The South American nation is currently the world's fifth largest producer of petroleum.

According to Iván Orellana, the Venezuelan representative to OPEC, over 60% of Venezuelan oil is sold to the United States. In light of their growing need for energy, China has been strengthening economic relations with energy supplying countries. Possibilities in Latin American look particularly bright due an abundance of raw materials and resources, as well as numerous sources of energy.
Venezuela is a major player in oil market. There is no doubt in anyone’s mind about how important a role does oil play in deciding the status of a country in world politics. Oil in today’s world if not the only important thing is still one of the most important one. We had an Iraq war happening for oil.

In future if there is any country that can compete with America for the super-power title it is China. Venezuela if goes ahead and makes china its biggest market, as it is in the process of doing, will be an important factor in making sure that China receives the title.