U.S. President Donald Trump holds a press conference as Secretary of Defense Pete Hegseth looks at him following a U.S. strike on Venezuela where President Nicolas Maduro and his wife, Cilia Flores, were captured, from Trump's Mar-a-Lago club in Palm Beach, Florida, U.S., January 3, 2026. REUTERS/Jonathan Ernst     TPX IMAGES OF THE DAY
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CNBC TV1807-01-2026, 07:00

Trump Announces US to Acquire Millions of Barrels of Venezuelan Oil Amid Tensions

  • President Trump stated the US will receive 30-50 million barrels of "High Quality" Venezuelan oil at market price from "Interim Authorities."
  • The announcement follows a failed US military operation in Caracas to capture Nicolás Maduro, resulting in significant casualties.
  • Trump claims the oil revenue will benefit both Venezuelan people and the US, with funds controlled by him as president.
  • White House is organizing an Oval Office meeting with oil executives (Exxon, Chevron, ConocoPhillips) regarding Venezuela.
  • The oil transaction could be worth up to $2.8 billion, equivalent to 2.5 days of US oil supply.

Why It Matters: US to secure Venezuelan oil amid political tensions and failed Maduro capture attempt.

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