The United States is set to receive between 30 million to 50 million barrels of Venezuelan oil, as announced by President Donald Trump. According to the White House, the oil will be sold at market value, with the proceeds controlled by the US government.
The move is part of a broader effort to exert pressure on Venezuela’s government, led by President Nicolás Maduro, whom Trump has accused of orchestrating the Venezuelan drug trade. The US has imposed sanctions on Venezuela, including a blockade on sanctioned oil tankers, in an attempt to stifle the country’s oil exports.
Venezuela’s oil industry has been severely impacted by US sanctions and years of underinvestment, mismanagement, and corruption. The country’s crude production has plunged over 70% since its peak in the late 1990s. Despite holding the world’s largest proven oil reserves, Venezuela’s output accounts for less than 1% of global supply.
Trump’s announcement has sparked debate about the potential benefits and consequences of the deal. Energy experts say restoring Venezuela’s production would require massive investment and could take years. The US national debt has reached $38.4 trillion, and tapping into Venezuelan oil reserves could generate revenue, but it won’t significantly reduce the US’s massive debt burden.
The US has positioned itself to dominate the Western Hemisphere and exploit Venezuela’s vast energy resources. American firms once built and led Venezuela’s oil industry, but their operations were nationalized by Hugo Chávez in the early 2000s.
According to Bloomberg, Venezuela has shipped about 630,000 barrels of crude on average per day in 2025. The US blockade is likely to directly affect about 500,000 barrels a day from the South American country.
Author: Korkor Anumu
