SINGAPORE, Jan 5 (Reuters) - Venezuela's oil production outlook this year will depend on how U.S. sanctions policy evolves, Goldman Sachs ( GS ) analysts said, after U.S. President Donald ‌Trump deposed Venezuelan President Nicolas Maduro.

The U.S. snatched Maduro from ​Caracas at the weekend and Trump said Washington ‍would take control of the ⁠oil-producing nation.

"We ⁠see ambiguous but modest risks to oil prices in the ‌short-run from Venezuela depending ​on how U.S. sanctions policy evolves," Goldman Sachs ( GS ) analysts led by Daan Struyven ⁠said in a January ‍4 ​note.

Goldman's 2026 oil price forecasts remained unchanged with Brent's average at $56 and West Texas Intermediate ‍at $52 a barrel while Venezuela's 2026 oil production is forecast to stay flat at 900,000 barrels per day.

However, Venezuela's production may rise in the long run, which adds ​downside ‍risks to the oil price forecast for 2027 and beyond, the analysts said.

Venezuela produced ​about 3 million bpd at its peak in the mid-2000s and holds about a fifth of global proven oil reserves.

"Any recovery in production would likely be gradual and require substantial investment," the analysts ​said.

"We estimate $4/bbl of downside to 2030 oil prices in a scenario where Venezuela crude production rises to 2mb/d in ‍2030."