Overview
- U.S. Southern Command said forces apprehended the tanker Sagitta without incident, the seventh Venezuela-linked vessel detained under President Trump's declared quarantine.
- Interim authorities confirmed receipt of $300 million from a $500 million U.S.-run crude sale, with funds routed through local banks and the central bank to support the foreign exchange market.
- At Davos, Energy Secretary Chris Wright told oil executives Venezuela’s production could rise about 30% from roughly 900,000 barrels per day in the short to medium term, according to attendees.
- Venezuela’s National Assembly plans to debate reforms to the hydrocarbons law to formalize partnership-style contracts and loosen PDVSA’s control, with officials pointing to a Chevron-style framework.
- The IEA reported early-January exports fell to around 300,000 barrels per day under the U.S. maritime blockade, building inventories and curbing output as Washington continues marketing seized barrels.