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

World
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CNBC TV18•07-01-2026, 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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