07-01-2026

Trump Announces Venezuela Oil Deal with US

Date: 07-01-2026
Sources: bbc.com: 1 | cnbc.com: 2 | edition.cnn.com: 1 | news.sky.com: 1 | npr.org: 1 | nypost.com: 1 | straitstimes.com: 1 | theguardian.com: 1
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Image Source:

Source: nypost.com

Image content: The image depicts Donald Trump standing in front of a backdrop of American flags, gesturing with his right hand. 1. The main subject or scene shown is Donald Trump giving a speech or presentation. 2. The visible elements include Donald Trump wearing a blue suit, white shirt, and pink tie, pointing at the camera with his right hand, and five American flags hanging from the ceiling behind him. 3. The news-worthy elements or context identifiable from the image itself are the patriotic setting and Trump's gesture, suggesting a political or public event. Donald Trump stands in front of five American flags, pointing at the camera with his right hand while wearing a blue suit and pink tie. He is positioned centrally, with the flags hanging behind him. The background is filled with blue curtains.

Summary

US President Donald Trump claims that Venezuela's interim government will supply 30-50 million barrels of oil to the US, worth up to $2.8 billion, to be sold at market price with proceeds controlled by the US. The deal is part of Trump's plans to tap into Venezuela's vast heavy oil reserves and reduce the country's economic ties with China, Russia, Iran, and Cuba.

Key Points

  • Venezuela to supply 30-50 million barrels of oil to the US
  • Oil worth up to $2.8 billion at current market prices
  • Proceeds to be controlled by the US to benefit both countries
  • Deal seen as a move to reduce Venezuela's economic ties with China
  • US plans to tap into Venezuela's vast heavy oil reserves

Articles in this Cluster

Trump says Venezuela will be 'turning over' up to 50 million barrels of oil to US

US President Donald Trump claims that Venezuela will transfer up to 50 million barrels of oil to the US following a military operation to remove President Nicolás Maduro from power. Trump stated that the oil will be sold at market price, with the revenue controlled by him to benefit both Venezuela and the US. Analysts are skeptical about the feasibility of Trump's plans, citing the need for significant investment and a stable government in Venezuela. The country's oil production has declined since the early 2000s, despite having the world's largest proven oil reserves. US oil companies, including Chevron and ConocoPhillips, have expressed caution regarding Trump's plans.
Entities: Donald Trump, Venezuela, Nicolás Maduro, United States, Delcy RodríguezTone: neutralSentiment: negativeIntent: inform

Asia-Pacific markets: Nikkei 225, Kospi, CSI 300, Hang Seng Index

Asian defense stocks fell as investors reacted to the recent U.S. attack on Venezuela, while Australia's benchmark ASX/S&P 200 rose after inflation data came in below forecasts. U.S. stocks hit record highs overnight, despite tensions over Venezuela. Japan's Nikkei 225 and Hong Kong's Hang Seng Index slid, while South Korea's Kospi jumped. The article also discusses the Trump administration's rhetoric on Greenland and its potential impact on the markets. U.S. crude futures fell after President Trump said Venezuela would transfer oil to the United States.
Entities: Asia-Pacific markets, Nikkei 225, Kospi, CSI 300, Hang Seng IndexTone: neutralSentiment: negativeIntent: inform

Trump says Venezuela to give up to 50 million barrels of oil to U.S.

President Donald Trump announced that the interim authorities in Venezuela will turn over 30-50 million barrels of oil to the United States. The oil will be sold at market price, and Trump claimed that the money will be used to benefit both Venezuela and the US. US crude futures fell 1.3% after the announcement. Trump plans to meet with US oil companies to discuss investing in Venezuela's oil sector. The announcement came after US forces captured Venezuelan leader Nicolas Maduro and his wife, who are now facing drug-trafficking charges in the US.
Entities: Donald Trump, Venezuela, United States, Nicolas Maduro, ChevronTone: neutralSentiment: negativeIntent: inform

Trump says Venezuela will turn over 30 million to 50 million barrels of oil to US | CNN BusinessClose icon

Former US President Donald Trump announced on Truth Social that Venezuela will transfer 30-50 million barrels of oil to the US, to be sold at market value with proceeds controlled by the US. The oil, already produced and stored in barrels, will be transported to US facilities in the Gulf for refining. While this amount is significant, it's unlikely to drastically lower US gas prices. The sale could raise $1.65-2.75 billion in revenue. The transfer is expected to happen quickly due to the heavy nature of Venezuelan crude, but experts note that crude oil doesn't spoil if not refined immediately.
Entities: Donald Trump, Venezuela, United States, Chris Wright, Joe BidenTone: neutralSentiment: neutralIntent: inform

Trump announces US to be given 'high quality' oil by Venezuela | World News | Sky News

US President Donald Trump announced that Venezuela's interim government will supply the US with 30-50 million barrels of 'high quality' oil worth over $2 billion. The oil will be transported to the US by storage ships and sold at market price, with the generated funds controlled by Trump. This move is part of Trump's plans to tap into Venezuela's vast heavy oil reserves, the largest in the world. The announcement follows Trump's boast about a US military operation in Venezuela and comes amid reports of US oil companies potentially investing in the country.
Entities: Donald Trump, Venezuela, US, Nicolas Maduro, CaracasTone: neutralSentiment: negativeIntent: inform

Trump says US to get 30 million to 50 million barrels of oil from Venezuela at market price : NPR

US President Donald Trump announced that Venezuela will provide 30-50 million barrels of oil to the US at market price, with proceeds to benefit both countries. The deal is worth up to $2.8 billion and is equivalent to 2.5 days of US oil supply. The announcement comes after a US military operation captured Venezuelan President Nicolas Maduro, sparking violence and casualties. The Trump administration has been pressuring Venezuela to open its oil industry to American investment. The deal has been met with mixed reactions in the US, with some Democrats criticizing the military operation.
Entities: Donald Trump, Venezuela, Nicolas Maduro, US, Delcy RodriguezTone: neutralSentiment: negativeIntent: inform

Venezuela selling up to 50 million barrels of oil to US, Trump reveals | New York Post

President Trump announced that Venezuela will sell up to 50 million barrels of oil to the US at 'market price', with the proceeds to be controlled by him. The oil will be transported directly to US docks via storage ships. Trump hopes to see more US oil companies enter Venezuela and expand production, potentially reimbursing them for resuscitating the nation's energy industry. Energy Secretary Chris Wright will execute the plan and meet with executives from Exxon and ConocoPhillips to discuss Venezuelan oil.
Entities: Venezuela, United States, President Trump, Nicolas Maduro, Hugo ChávezTone: positiveSentiment: neutralIntent: inform

Trump: Venezuela to send US up to 50 million barrels of oil | The Straits Times

US President Donald Trump announced that Venezuela will relinquish up to 50 million barrels of oil to the US, worth approximately $2.8 billion at current market prices. The oil will be sold, and the proceeds will be controlled by Trump to benefit both the US and Venezuela. This move is seen as a significant step in extending US economic influence in Venezuela and beyond, potentially at the expense of China, which was previously the top buyer of Venezuelan oil. The announcement led to a drop in West Texas Intermediate (WTI) oil prices. Analysts have varying views on the impact, with some seeing it as a politically significant but economically small move. The deal is part of a broader effort by the US to reduce Venezuela's economic ties with China, Russia, Iran, and Cuba.
Entities: Donald Trump, Venezuela, United States, China, Nicolas MaduroTone: neutralSentiment: negativeIntent: inform

Venezuela ‘turning over’ $2bn in oil to US, Trump says, in move that could cut supply to China | Venezuela | The Guardian

US President Donald Trump announced that Venezuela will supply $2 billion worth of oil to the US, potentially diverting supplies from China. The deal, facilitated by US Energy Secretary Chris Wright, could help Venezuela avoid deeper oil production cuts. Venezuelan officials have been uncooperative, with interim President Delcy Rodríguez hardening her tone against the US, calling Maduro's capture a 'kidnapping' and accusing the US of trying to steal Venezuela's oil reserves. The agreement is seen as a response to Trump's demand that Venezuela open up to US oil companies or risk more military intervention.
Entities: Donald Trump, Venezuela, US, China, Nicolás MaduroTone: neutralSentiment: negativeIntent: inform