Overview
- President Trump said the U.S. will run Venezuela and invite American oil companies to rebuild its industry, while the embargo on Venezuelan oil remains fully in effect.
- Oil prices edged lower, with Brent near US$60.5 and WTI around US$57, reflecting expectations of limited near‑term supply changes.
- Shares of producers, refiners and oilfield‑services firms jumped, with Chevron and major Gulf Coast refiners among notable gainers.
- Venezuela holds about 303 billion barrels of proven reserves but currently produces roughly 0.8–1.1 million barrels per day after years of decline.
- JPMorgan and Goldman Sachs expect any recovery to be gradual, with scenarios of 1.3–1.4 million bpd within two years and up to 2.5 million over a decade, and legal experts warn that international law constrains an occupying power from exploiting another state's resources.