President Donald Trump has announced that Venezuela “will be turning over” up to 50 million barrels of oil—worth approximately $2.8 billion—to the United States.
The declaration follows a U.S. military operation that removed Venezuela’s former leader, Nicolás Maduro, from power.
Trump stated on social media that the oil would be sold at market price and that he would personally control the revenue, pledging to use it to benefit both the people of Venezuela and the United States.
This latest claim aligns with his earlier promise that U.S. oil companies could resume operations in Venezuela within 18 months, forecasting a wave of new investment into the country’s crippled energy sector.
However, industry analysts caution that such projections are deeply unrealistic.
Prior to the regime change, experts told the BBC that restoring Venezuela’s oil production would likely require tens of billions of dollars and could take up to a decade, highlighting a stark divide between political rhetoric and on-the-ground economic realities.
By James Kisoo
