Oil prices edged higher Sunday evening following the U.S. military raid in Venezuela that resulted in the capture of Nicolas Maduro. Investors are now assessing the potential implications for the global oil market, though analysts suggest near-term effects will be limited.

U.S. oil futures experienced a modest increase, rising 0.19% to $57.43 a barrel. Brent crude also saw a gain, climbing 0.28% to $60.92 a barrel, reversing earlier losses. These gains occurred despite an oversupplied global oil market, a factor that has been weighing on prices.

The market's muted reaction reflects a consensus that Venezuela's influence on the global oil landscape has diminished significantly in recent years. While the country holds the world's largest proven oil reserves, production has been hampered by U.S. sanctions, mismanagement under the Maduro regime, and chronic underinvestment. Rob Hummel, senior portfolio manager at Tortoise Capital Management, noted that the events in Venezuela do not fundamentally alter the oversupply dynamic currently influencing oil prices.

President Trump stated that Maduro's removal would stimulate investment in Venezuela's oil industry and revitalize output. However, analysts caution that a significant turnaround in Venezuelan oil production could take years to materialize. The country's oil sector has suffered from years of neglect, requiring substantial investment and restructuring to restore its former capacity.

OPEC's recent decision to maintain steady production through the first quarter further contributes to the current market context. This decision reinforces the expectation of a well-supplied market, potentially limiting the upside for oil prices in the near term, irrespective of developments in Venezuela.