Washington: U.S. President Donald Trump has announced that Venezuela will supply between 30 to 50 million barrels of high-quality oil to the United States. Trump stated that the proceeds from this oil will be under the control of the U.S. President and will be used in a manner beneficial to both countries.
The announcement came days after the capture of Venezuelan President Nicolás Maduro and his wife during a pre-dawn U.S. operation on January 3. Both were brought to New York to face charges of drug and arms trafficking. Maduro pleaded not guilty in Manhattan Court, claiming he had been kidnapped.
Trump Outlines Oil Plan
Trump shared the plan on his social media platform, Truth Social, stating that the oil would be shipped at market value and directly unloaded at U.S. docks. He said, “I have instructed Energy Secretary Chris Wright to implement this plan immediately. The funds generated will be used to ensure that both the people of Venezuela and the United States benefit.”
Strategic and Economic Implications
The Trump administration has framed Maduro’s removal as a turning point for Venezuela. With global oil prices around $56 per barrel, the shipment could be worth approximately $2.8 billion, according to estimates from the Associated Press. Based on data from the U.S. Energy Information Administration, this supply is equivalent to roughly two and a half days of U.S. consumption.
Venezuela holds the world’s largest proven oil reserves, yet its daily production currently stands at only one million barrels—far below the U.S. average of 13.9 million barrels per day in October 2025.
U.S. Energy Industry Engagement
Separately, the White House is set to hold a meeting with officials from major oil companies, including Exxon, Chevron, and ConocoPhillips, at the Oval Office to discuss Venezuela-related energy plans.
Discover more from SD NEWS agency
Subscribe to get the latest posts sent to your email.