Trump claims US would get 30-50 million barrels of Venezuelan oil
US President Donald Trump stated that Venezuela’s interim authorities would supply between 30 million and 50 million barrels of sanctioned oil to the US at market price. The announcement was conveyed through a post on Trump’s social media platform, Truth Social. In his post, Trump stated that Venezuela would transfer the oil to the US, which would then sell it at market prices. He stated that proceeds from the sale would be under his control as US president and would be utilized to benefit the people of both Venezuela and the US. “This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America,” Trump wrote, adding that the funds would be used “to ensure it is used to benefit the people of Venezuela and the United States.”
Trump stated that the oil transfer would be executed immediately. He stated that he had instructed Energy Secretary Chris Wright to implement the plan promptly. Trump stated that the oil would be transported via storage ships and unloaded directly at US ports. “I have asked Energy Secretary Chris Wright to execute this plan, immediately,” he wrote. As oil prices hover around $56 per barrel, the transaction disclosed by Trump late Tuesday could potentially reach a value of $2.8 billion. The US consumes approximately 20 million barrels of oil and related products daily, indicating that the Venezuelan oil transfer would amount to about two and a half days of US supply, as reported by the US Energy Information Administration.
According to a report, the White House is set to host an Oval Office meeting on Friday with executives from oil companies to discuss Venezuela. Representatives from Exxon, Chevron, and ConocoPhillips are anticipated to be present at the meeting. The announcement followed closely on the heels of US forces capturing Venezuelan leader Nicolás Maduro during a late-night military operation, a move that dramatically shifted the political landscape of the country. Officials in Caracas later reported that at least 24 Venezuelan security officers lost their lives during the operation aimed at capturing Maduro and extraditing him to the US to face drug charges.
On Tuesday, Venezuela’s acting President Delcy Rodríguez responded to Trump’s remarks. Trump had cautioned earlier in the week that Rodríguez would encounter repercussions more severe than Maduro’s if she did not “do what’s right” and reform the country to conform with US interests. Trump has stated that his administration will now oversee Venezuela policy and is urging the country’s leaders to allow American energy companies access to its oil reserves. Trump dismissed the criticism from Democrats regarding the military operation, pointing out that his predecessor, Joe Biden, had similarly advocated for Maduro’s arrest on drug trafficking charges. During a House Republican retreat in Washington, Trump expressed his frustration that Democrats were not acknowledging what he characterized as a successful operation, despite a shared consensus that Maduro was not the legitimate president of Venezuela.
