US Eyes Venezuela: Global Oil Control, China Influence, Resource Grab

• US actions in Venezuela aim to control the global oil supply chain and reduce China's influence, beyond just crude prices.
• US sanctions and COVID-19 devastated Venezuela's oil-dependent economy, causing a 78% drop in oil production (2015-2021).
• American companies like Chevron, ExxonMobil, and ConocoPhillips are poised to take control of Venezuela's vast oil reserves.
• Increased production under US control could significantly boost Venezuela's global oil share, strengthening US dominance in crude supply.
• The US also targets Venezuela's natural gas, coal, and gold, further countering China's growing interest in South American resources.

Why It Matters: US strategy in Venezuela is a multi-faceted move for global oil dominance, resource control, and countering China.