Trump stated that Venezuela would supply the United States with 30–50 million barrels of oil

U.S. President Donald Trump said on Tuesday night that Venezuela’s interim government would transfer tens of millions of barrels of oil to the United States, with the proceeds from sales to be managed by Washington. In a social media post, Trump said Caracas would hand over between “30 and 50 million barrels of high-quality, sanctioned oil,” which would be sold at market prices. He added that the revenue would be overseen by him as president to ensure it benefits both the Venezuelan and U.S. people, and noted that he had directed Energy Secretary Chris Wright to implement the plan immediately.

The proposed arrangement could redirect Venezuelan oil exports away from China while helping state-run PDVSA avoid deeper production cuts, following reports that Washington and Caracas were in talks over a supply agreement. The announcement comes days after U.S. forces captured President Nicolas Maduro, heightening political uncertainty in Venezuela. Maduro’s vice president, Delcy Rodriguez, was sworn in as interim leader this week and has signaled her willingness to cooperate with Washington.

Trump said the United States would oversee Venezuela until a permanent leader is elected and would also assume control of the country’s aging oil sector. Following the announcement, oil prices fell, as a U.S. takeover could bring large volumes of crude to market and boost supply. March Brent futures dropped 2%.

Source: Investing