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By Gabe Whisnant
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President Donald Trump said Tuesday on his social media site that Venezuela’s interim authorities will sell 30 million to 50 million barrels of oil to the United States at market prices.
“I have asked Energy Secretary Chris Wright to execute this plan immediately,” Trump posted on Truth Social, adding that the oil would be shipped to U.S. docks.
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Why it Matters
The announcement follows the weekend capture of Venezuela President Nicolás Maduro and his wife, Cilia Flores, after a “large-scale strike” against Caracas. The two face charges of narco-terrorism as the administration has blamed Venezuela for the flow of deadly drugs into the United States.
Trump said his administration will "run" Venezuela and is pressuring the country’s leaders, including acting President Delcy Rodriguez, to open its vast oil reserves to American energy companies.
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What to Know
Trump said Tuesday that the oil proceeds would be controlled by his administration and used to benefit both Venezuela and the United States.
Venezuela’s oil reserves, believed to be the world’s largest, and its crude output will be at the center of the country’s future and economic recovery after the crisis it has been plunged into in the past decade by the Maduro’s regime.
Experts, however, are skeptical about the U.S. capacity to turbocharge a sector that has long been neglected in Venezuela—especially if instability in the country follows Maduro’s arrest. Most believe that Trump’s plan is facing major hurdles, and it is unlikely to impact oil prices any time soon.
Some critics are accusing the Trump administration of having secondary goals for ousting Maduro, especially considering that Venezuela has not been a major producer of cocaine since the 2010s and does not produce fentanyl—like taking over its oil reserves.
Trump has not masked his intentions for the country’s oil either. “We’re going to be taking out a tremendous amount of wealth out of the ground,” the president said during a news conference on Saturday.
The money made through this wealth, he said, would go “to the United States of America in the form of reimbursement for the damages caused us by that country.”
Earlier this week, Trump warned that Rodriquez would face an outcome worse than Maduro’s if she does not “do what’s right" and overhaul Venezuela into a country that aligns with U.S. interests.
What People Are Saying
Trump wrote in full on Truth Social, "I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America. This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States! I have asked Energy Secretary Chris Wright to execute this plan, immediately. It will be taken by storage ships, and brought directly to unloading docks in the United States. Thank you for your attention to this matter!"
Rodriguez said Tuesday, “Personally, to those who threaten me," Rodriguez said in an address before government agricultural and industrial sector officials. "My destiny is not determined by them, but by God.”
What Happens Next
Separately, the White House is planning an Oval Office meeting Friday with oil company executives, including representatives from Exxon, Chevron and ConocoPhillips, according to a person familiar with the matter who spoke on condition of anonymity to discuss the plans.
Updates: 1/6/26, 7:31 p.m. ET: This article was updated with new information and remarks.
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