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Trump Proposes U.S. Control Over Venezuela's Vast Oil Reserves

KVIA•Sunday, January 4, 2026 at 4:07 PM•CNN Newsource

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During a recent conference, President Donald Trump announced plans to take control of Venezuela's significant oil reserves, which he described as a long-standing failure due to poor extraction levels and lack of investment. Venezuela holds the largest heavy crude reserves globally, accounting for 17% of the world's total, yet production has drastically declined from 2.5 million barrels per day in 2014 to just over one million recently. The U.S. has shown interest in Venezuelan oil, particularly since its refineries are designed for heavy crude, and there are potential legal pathways for a deal despite existing sanctions. This proposal could drastically alter Venezuela's economic landscape and U.S. energy supply dynamics.

Key Details: • Venezuela's oil production recently surpassed one million barrels per day, the highest in over five years. • The U.S. holds a significant interest in Venezuelan heavy crude due to refinery compatibility. • Legal restrictions exist, but experts believe they can be navigated for an agreement. • Venezuela has vast reserves of natural gas and rare earth minerals, but exploitation remains limited.

economy trump venezuela energy oil

People & Organizations

Donald TrumpVenezuelaNicolás MaduroDelcy RodríguezManuel SutherlandFrancisco RodríguezFaja del OrinocoArco Minero del OrinocoPDVSAU.S. Energy Information Administration

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