Trump: Venezuela to Transfer 30-50 Million Barrels of Oil to US

• Donald Trump announced Venezuela will transfer 30-50 million barrels of "sanctioned oil" to the United States.
• The US will sell the crude at market value, with proceeds intended to benefit the people of Venezuela and the United States.
• Energy Secretary Chris Wright has been ordered to execute the plan, with oil to be transported by storage ships to US unloading docks.
• A senior official confirmed the oil is already produced, barreled, and mostly on ships heading to U.S. Gulf Coast facilities.
• While significant, the influx is expected to have only a modest effect on US gasoline prices, potentially generating $1.65-$2.75 billion in revenue.

Why It Matters: Trump announced a major Venezuelan oil transfer to the US, with proceeds for both nations, but limited market impact.