Venezuela enjoys one of the world’s largest oil reserves and uses these resources as an important instrument of its foreign policy. Analyzing the voting behavior of all countries in the Western hemisphere in the United Nations General Assembly from 1994 to 2008, this paper examines whether Venezuelan oil diplomacy towards other countries has increased those countries’ support of Venezuela in the United Nations General Assembly. Correlations between significant increases in voting behavior similarity with Venezuela and the exercise of an oil initiative indicate that Venezuelan oil diplomacy has an impact on other countries’ voting behavior in a few cases. However, the lack of such correlations in most cases leads to the conclusion that Venezuelan oil diplomacy is a highly inefficient instrument to gain influence over other countries in the United Nations General Assembly. Although Venezuelan oil diplomacy might have an influence on some countries, it is unable to dominate most countries’ foreign policy behavior.