（Singapore, 07.01.2026）The United States is preparing to sell up to 50 million barrels of Venezuelan oil, a move that President Donald Trump says will generate billions of dollars and help fund a new chapter for Venezuela under closer US influence.
The announcement, made late Tuesday on social media, signals a sharp escalation in Washington’s involvement in the oil-rich South American nation following the dramatic capture of its long-time leader Nicolás Maduro.
Trump said Venezuela’s interim authorities would turn over between 30 million and 50 million barrels of what he described as “high-quality, sanctioned oil” to the United States. At current market prices, the oil could be worth as much as US$2.8 billion.
According to Trump, the crude will be sold at market value, with the proceeds placed under US control to ensure the money is used to benefit both Venezuelans and Americans.
“This oil will be sold at its market price,” Trump wrote, adding that Energy Secretary Chris Wright had been instructed to execute the plan immediately. The oil, he said, would be loaded onto storage vessels and shipped directly to unloading docks in the United States.
While the announcement offered few operational details, it came at a sensitive moment for Venezuela. Maduro is now in a New York jail awaiting trial on US drug charges after a weekend operation that US officials say resulted in dozens of deaths. The raid marked one of Washington’s most dramatic military actions in Latin America in decades and has rapidly reshaped Venezuela’s political landscape.
Market reaction to Trump’s comments was swift but limited. US benchmark crude prices fell as much as 2.4% before stabilising around US$56 a barrel. Analysts said the price move reflected short-term sentiment rather than a fundamental shift in global supply. Even at the high end, 50 million barrels represent only about one to two months of Venezuela’s pre-blockade oil production and a tiny share of global output.
Venezuela holds the world’s largest proven crude reserves, yet years of neglect, sanctions and the departure of foreign partners have left production at historic lows. The country now contributes less than 1% of global oil supply, and experts say it would take years and billions of dollars to restore output to meaningful levels.
Oil logistics and refinery impact
Trump did not specify where the oil would come from, but Venezuela currently has a backlog of unsold crude. Since the US imposed a partial blockade last month, shipments have been halted, leaving storage tanks and contracted vessels increasingly full. Maritime analysts say state-owned oil company Petroleos de Venezuela SA is running out of space, adding urgency to any plan to move barrels out of the country.
Venezuelan crude is particularly suitable for refineries along the US Gulf Coast, many of which were built to process heavy, sour oil. Refiners such as Phillips 66 and Valero Energy stand to benefit if shipments resume, and their share prices jumped earlier this week after news of Maduro’s capture. Some of the oil could also be directed into commercial storage, boosting US stockpiles that are currently near five-year seasonal lows.
For now, Chevron remains the only American company actively producing and exporting oil from Venezuela under a special sanctions exemption. The company has reportedly booked multiple tankers to load crude from Venezuelan ports, though it has declined to comment publicly on Trump’s latest announcement.
Looking further ahead, the US administration has signalled that American oil companies could play a much larger role in rebuilding Venezuela’s energy sector. Trump has suggested that US majors previously hurt by nationalisations under former president Hugo Chávez could return, with Washington helping to restore infrastructure and revive production.
Geopolitics and Venezuela’s forced realignment
The oil plan is closely tied to a broader US strategy to reshape Venezuela’s foreign relationships. According to US media reports, Washington has told interim leader Delcy Rodríguez that Venezuela must priorities the United States in oil production and sales, while sharply reducing ties with China, Russia, Iran and Cuba.
Such demands would mark a dramatic break from the past. Under Maduro, China was Venezuela’s largest oil buyer, often purchasing crude at deep discounts. That trade has largely stopped since the blockade, forcing Beijing to seek alternative supplies from countries such as Iraq and Canada. Russia, Iran and Cuba have also provided economic, military and intelligence support to Caracas over the years — support Washington now wants rolled back.
US officials have said they do not intend to occupy Venezuela, but Trump has made it clear that the United States plans to play a central role in steering the country’s transition. Much of that transition, he has suggested, will be financed by oil revenues now flowing under US supervision.
Inside Venezuela, the situation remains tense. Rodríguez has declared a week of mourning for military personnel killed during the operation that captured Maduro. While some opposition figures had hoped to take a leading role in shaping the country’s future, US intelligence assessments reportedly concluded that elements of the existing power structure were better placed to maintain short-term stability.
For now, the planned oil sales place energy revenues at the center of US-Venezuela coordination following Maduro’s removal. US officials have said the crude will be sold at market prices, with proceeds managed under US oversight during the transition period, as Venezuela’s political leadership and external relationships continue to evolve.
