Overview
- President Trump justified the operation by saying the U.S. needs access to Venezuelan oil and announced an initial transfer of up to 50 million barrels to the U.S., with proceeds managed by him.
- The U.S. Senate moved to seek Congressional authorization for deploying American troops in Venezuela.
- China’s Foreign Ministry condemned the use of force and Maduro’s arrest, signaling it will defend investments and trade ties after years as Venezuela’s primary oil customer and creditor.
- Venezuela holds about 303 billion barrels of reserves but produced roughly 900,000 barrels per day in 2024, and its heavy, high‑sulfur crude limits how quickly exports can rise.
- Industry response remains cautious as Chevron is the only U.S. firm with an active license, experts say rehabilitating output would take years, and the planned stock sale equals less than a day of global supply.