Overview
- President Trump told the New York Times that U.S. oversight of Venezuela would last “much longer” than a year and said the interim authorities are cooperating closely with Washington.
- Energy Secretary Chris Wright said the U.S. government will market Venezuelan crude indefinitely, directing sales to U.S. refineries and global buyers with proceeds under U.S. control.
- PDVSA confirmed it is negotiating oil sales with the United States, while UPI reported no finalized agreement yet on Trump’s pledge to take 30 million to 50 million barrels.
- Chevron is in talks to expand its Venezuela license, and the White House has scheduled a Friday meeting with Exxon Mobil, ConocoPhillips and Chevron on reviving production.
- U.S. authorities seized two oil tankers in recent days as analysts predicted Gulf Coast refiners would benefit from Venezuelan heavy crude, with Canadian producers and some Chinese refiners likely to lose out.