U.S. President Donald Trump has announced that Venezuelan authorities will transfer between 30 million and 50 million barrels of crude oil to the United States. He said the move is intended to benefit both Venezuelans and Americans, while addressing supply challenges in the U.S. energy sector.
According to Trump, the oil will be sold at market prices, with proceeds managed by the U.S. government to ensure funds are used effectively. He added that American energy companies may assist in restoring and managing Venezuela’s oil infrastructure, which has experienced underinvestment and production declines over the past years.
The oil will be delivered to U.S. ports for refining and sale. Analysts estimate the transfer could be worth up to $2.8 billion, based on current market prices. Trump’s announcement has already influenced global oil markets, contributing to a slight drop in U.S. crude prices due to expectations of increased supply.
While supporters argue that the arrangement could boost Venezuelan economic stability and strengthen U.S. energy security, critics have raised concerns about its legal and diplomatic implications, particularly regarding Venezuela’s sovereignty and the authority of its current leadership.
Officials from both countries are reportedly finalizing the logistical and regulatory processes needed to implement the transfer. The initiative is part of a broader U.S. strategy to secure energy resources and maintain influence in the region.
