Trump announces Venezuelan Oil to be shipped to US

The United States President Donald Trump has announced that Venezuelan crude oil will be sent to the United States, following the detention of Venezuelan President Nicolás Maduro and his wife Cilia Flores in a recent military operation.

On Tuesday (December 6), Trump posted on his social media platform Truth Social that US officials had reached an agreement with Venezuela’s current interim authorities to deliver an initial shipment of 30–50 million barrels of oil to the United States. The crude will be sold at prevailing international market prices after arrival.

“Venezuelan oil will be shipped directly to storage vessels and unloaded at US ports before being sold on the global market,” Trump wrote.

He added that the plan would benefit the people of both countries and instructed US Energy Secretary Chris Wright to implement it immediately.

A US official, speaking to CNN on condition of anonymity, confirmed that Venezuela’s interim government has agreed to send the oil and that preparations have already begun.

Venezuela holds the world’s largest proven oil reserves, estimated at 30.3 billion barrels, roughly one-fifth of global reserves, according to the US Energy Information Administration (EIA). Despite this, the country produces only around one million barrels per day, contributing just 0.8% of daily global crude supply. Venezuelan crude is heavy and dense, requiring specialised handling and refining, but it can be processed into high-quality diesel, asphalt, industrial fuels, and other heavy petroleum products.