Thursday, January 8 2026 16:43

Trump is developing a large-scale plan to control Venezuelan oil

Trump is developing a large-scale plan to control Venezuelan oil

ArmInfo. Oil prices have barely budged since the US ousted Venezuela's Nicolás Maduro and President Trump pledged billions to revive the country's oil infrastructure. The president believes this initiative could lower oil prices to his goal of $50 per barrel.

Trump directs Energy Secretary to implement his plan to ship oil in storage vessels and transport it to the US. The US will sell blocked Venezuelan oil "indefinitely," Energy Secretary Chris Wright said on Wednesday, a day after President Trump announced that Venezuela would provide the US with between 30 million and 50 million barrels of sanctioned oil.

In a post on Truth Social, Trump announced that he had directed Wright to implement his plan to ship oil in storage vessels and transport it to the US.

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