According to CoinMeta, an analyst UBS stated that the Venezuelan oil agreement will not have a significant impact on oil prices in the short term, and the Strait of Hormuz remains the key factor affecting oil prices. Despite the attention drawn by the Venezuelan agreement, the country's oil production has only increased by 100,000 to 200,000 barrels per day this year, and it faces multiple challenges, including insufficient investment and aging infrastructure. UBS predicts that in the coming months, oil prices will be mainly influenced by the situation in the Strait of Hormuz and changes in global energy demand.