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- Major Oil Boost: Venezuela Hands Over Millions of Barrels to America
- Trump Takes Control: Proceeds to Benefit Both Nations
- Post-Maduro Deal: Sanctioned Crude Heading to US Docks
President Donald Trump just announced that Venezuela’s interim authorities are turning over between 30 and 50 million barrels of high-quality oil to the United States. Yeah, you heard that right – up to 50 million barrels, straight from those sanctioned stockpiles that have been sitting around due to years of embargoes.
Trump made the announcement on Truth Social, saying he’s thrilled about it. The oil will be sold at market prices we’re talking around $55-56 a barrel right now, which could mean $1.65 billion to $2.75 billion in revenue. And get this: Trump says he’ll personally control the money as president to make sure it’s used to help the people of both Venezuela and the US. He even tasked Energy Secretary Chris Wright with getting it done immediately, with storage ships bringing the crude directly to US unloading docks.
This all comes hot on the heels of that dramatic US military operation over the weekend that led to Nicolás Maduro’s ouster and capture. Maduro’s out, an interim government is in place, and now we’re seeing the first big economic move. Trump has been vocal about rebuilding Venezuela’s oil sector, claiming American companies built it originally and that it was “stolen” through nationalization decades ago – though experts note that Venezuela compensated US firms back then and the oil always belonged to the country.
Analysts are saying this batch is likely coming from overflowing onshore storage (about 48 million barrels capacity, nearly full) and some seized tankers holding another 15-22 million barrels. It’s not a game-changer for global markets – the US guzzles about 20 million barrels a day – but it could ease some pressure on Venezuela’s production and give a quick influx here. Oil prices dipped a bit after the news, with US crude falling around $1 a barrel.
Trump’s also planning a meeting Friday with bigwigs from Chevron, Exxon Mobil, ConocoPhillips, and others to talk massive investments in Venezuela’s crumbling infrastructure. He thinks US firms can get things “up and running” in 18 months, pouring in billions to tap into the world’s largest proven reserves – over 300 billion barrels. But skeptics point out it could take years and tens of billions to really ramp up production from the current low levels.
On the flip side, some experts are raising eyebrows about the president directly controlling the proceeds – there’s not much precedent for that. And while Trump says it’ll well benefit for everyone, details on how the money splits or gets spent are still fuzzy. This feels like a very bold chapter in US-Venezuela relations, shifting from sanctions and standoffs to direct involvement. Whether it stabilizes things down there or stirs more controversy, it’s definitely subject to watch.
Sources: BBC News, CNBC, Al Jazeera, CNN Business, Associated Press, Politico, Bloomberg, USA Today, Reuters. All reports based on Trump’s Truth Social post and administration statements from January 6, 2026
