It's not that easy/clear. Venezuelan oil is really poor quality, needs lots of refining, and is thus only profitable only when the price per barrel is on the higher end.

So Qatar (which mostly exports natural gas anyways), Saudi Arabia, etc. can just dump oil at a cheaper price to make it unprofitable to extract and refine Venezuelan oil.

US decision makers salivating over war/oil/whatever def don't take that into account, but it really doesn't matter either.