Overview
- Energy Secretary Chris Wright said the U.S. will market Venezuelan crude indefinitely, with proceeds placed in U.S.-controlled accounts after an initial 30–50 million barrel tranche.
- President Trump said Venezuela will use oil-sale revenue to buy only American-made goods, including agricultural products, medicines, medical devices, and equipment for the power and energy sectors.
- U.S. authorities confirmed seizures of two sanction-linked tankers, including a Russia-associated vessel taken with British assistance, as they restrict shipments to authorized channels.
- The White House said it is in close coordination with interim leader Delcy Rodríguez, while Vice President JD Vance stated Venezuela may sell oil only when it serves U.S. interests.
- Analysts expect U.S. Gulf Coast refiners to benefit from redirected heavy crude, with Canadian sellers and some Chinese independent refiners losing out as China turns to Iranian and possibly Russian supply; Reuters reported Chevron is in talks to expand licensed operations as the White House plans to meet oil executives on Friday.