Overview
- Venezuela’s state oil company said it is negotiating the sale of crude to the United States under what it calls a strictly commercial framework similar to arrangements with Chevron.
- President Donald Trump said provisional Venezuelan authorities will deliver 30 to 50 million barrels of oil to the United States at market prices.
- Energy Secretary Chris Wright stated the U.S. will handle the crude’s marketing and route revenues into accounts controlled by Washington rather than transferring funds directly to Venezuela.
- The White House said it has already begun commercializing Venezuelan crude and has contracted major commodity traders and key banks to execute and finance sales.
- Analysts highlight severe capacity limits—output near 800,000 to 900,000 barrels per day—and estimate about $10 billion annually, or tens of billions overall, is needed to rebuild, even as Venezuelan bonds rallied with roughly $4 billion in gains.