US EditionJill On Money: Venezuela's Oil — What It Means for Your Wallet
The US will receive 30 to 50 million barrels of Venezuelan oil from a new deal, aiming to boost energy security and aid Venezuelans amid shortages.
- On Tuesday, US President Donald Trump announced a deal with Venezuela's interim authorities to transfer oil to the United States and plans for American investment to revitalize Venezuela's oil industry, framing it as an economic and humanitarian measure for Venezuelans.
- Venezuela sits on about a fifth of the world's oil reserves and the largest heavy-oil deposits, but after years of decline it produces barely 1% of global output amid a US blockade disrupting the dark fleet.
- Early estimates from Bloomberg suggest the oil's value could reach $2.8 billion, with 30 to 50 million barrels potentially transferred, and 11 tankers lined up to move Venezuelan crude.
- The White House will meet top oil executives on Friday to discuss US investments, while the administration said it will sell oil at market prices with proceeds controlled by US President Donald Trump.
- Venezuelan oil returns could increase US leverage over Canada and challenge Mexico , as ABC reported US pressure on Caracas to favor US buyers.
19 Articles
19 Articles
No country produces as much oil as the US. Nevertheless, they are hot on Venezuela and have now forced the first delivery. Everything so that Donald Trump's funders can enrich themselves even more. A comment.
US Move on Venezuela's Oil Increases Pressure on Brazil, Petrobras
Get latest articles and stories on World at LatestLY. Indications that the United States could push for a revival of oil production in Venezuela, in line with plans outlined by President Donald Trump, are expected to alter the regional energy equation and pose fresh challenges for Brazil and its state-run oil major Petrobras. World News | US Move on Venezuela's Oil Increases Pressure on Brazil, Petrobras.
Shortly after US Special Forces captured and transferred the left-wing national leader Nicolas Maduro, US President Donald Trump announced American billions of investments in Venezuela's oil industry. However, the country has the world's largest proven crude oil reserves, production and infrastructure are broken. According to experts, the path to modernisation would be long and expensive.
Donald Trump has rolled out the red carpet for US oil companies in Venezuela. He has extended the message of "go and get it", promising them great riches if they revive the country's oil industry. At first glance - and given that ethics and violations of international law are of little use in the world of hydrocarbons -, it seems like an interesting invitation: how can you give up what are supposedly the largest reserves in the world? But the re…
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