In a surprising turn of events, President Donald Trump announced a plan to refine and sell up to 50 million barrels of Venezuelan oil that had been previously stuck in Venezuela under a US blockade. This move comes after the US captured President Nicolas Maduro, leading to a significant shift in the dynamics of the Venezuelan oil industry.
According to a report by France 24, President Trump’s plan involves Venezuela turning over between 30 and 50 million barrels of oil to the US, where it will then be sold at market prices. This decision has sparked a global debate on the implications of such a move, both economically and politically.
The Guardian reported that global oil prices fell by more than 1% following Trump’s announcement, as the deal would give the US president the power to sell up to $3 billion worth of Venezuelan crude currently stranded in tankers and storage facilities. This move has raised concerns about the impact on the already oversupplied global oil market.
On the other hand, NBC News highlighted that Venezuela has agreed to turn over up to 50 million barrels of oil, potentially signaling a new chapter in the country’s oil exports. This development could have significant implications for Venezuela’s economy and its relationship with the US.
While some view Trump’s plan as a strategic move to exploit Venezuela’s vast oil reserves, others criticize it as a violation of international norms and an attempt to exert control over another country’s resources. The live updates provided by The New York Times shed light on the ongoing debate surrounding this controversial decision.
In conclusion, Trump’s plan to refine and sell Venezuelan oil has ignited a global conversation about the implications of such a move. As the situation continues to unfold, it remains to be seen how this decision will impact the global oil market, Venezuela’s economy, and the broader geopolitical landscape.
References:
1. https://www.straitstimes.com/world/united-states/venezuela-raid-turns-travellers-caribbean-getaways-into-ordeals
2. https://www.nbcnews.com/video/shorts/venezuela-to-turn-over-up-to-50-million-barrels-of-oil-255517253951
3. https://www.france24.com/en/americas/20260107-live-trump-announces-plan-to-refine-sell-up-to-50-million-barrels-of-venezuelan-oil
4. https://www.theguardian.com/business/2026/jan/07/oil-prices-fall-after-trump-says-venezuela-will-send-up-to-50m-barrels-to-us
5. https://ifpnews.com/trump-claims-venezuela-to-give-30-50-million-barrels-of-oil-to-u-s/
6. https://www.nytimes.com/live/2026/01/07/world/venezuela-us-trump
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