China Buys Venezuelan Oil from US, Trump Admin Confirms

• Energy Secretary Chris Wright confirmed China bought Venezuelan crude previously acquired by the US.
• The US seized former President Nicolás Maduro and asserted control over Venezuela's oil industry in January.
• China was the largest buyer of Venezuelan crude before the US intervention, often at deep discounts due to sanctions.
• President Donald Trump stated Venezuela would turn over 30-50 million barrels of sanctioned oil to the US.
• JPMorgan Chase & Co. predicts Venezuelan oil production could reach 2 million barrels a day within 2-3 years.