US President Donald Trump on Tuesday announced that Venezuela’s interim authorities will hand over between 30 million and 50 million barrels of “high-quality” crude oil to the United States. The statement was made via Trump’s social media platform Truth Social, where he confirmed that the oil will be supplied at market price and transported directly to US ports.
Trump said he has directed US Energy Secretary Chris Wright to immediately execute the plan, stating,
“It will be taken by storage ships and brought directly to unloading docks in the United States.”
According to Trump, the revenue generated from the oil sales will remain under his control as President of the United States. However, he emphasized that the money would be used to benefit both the American people and the people of Venezuela, hinting at a humanitarian and economic support framework linked to the oil deal.
This announcement comes in the backdrop of the dramatic political upheaval in Venezuela following the removal of Nicolás Maduro’s government and the installation of interim authorities. The move marks another major development in the unfolding geopolitical and energy landscape involving Washington and Caracas.
Meanwhile, the White House is organizing an Oval Office meeting on Friday with leading oil company executives, with representatives from Exxon, Chevron, and ConocoPhillips expected to attend. The meeting will reportedly focus on Venezuela’s oil transition, future energy cooperation, and supply dynamics, according to a senior official familiar with the development.
As the situation continues to evolve, the oil deal represents a major strategic shift in US-Venezuela relations and has significant implications for global energy markets, diplomacy, and regional stability.