Overview
- President Trump says interim authorities will transfer 30–50 million barrels to the United States, with proceeds managed by his administration and spent on U.S.-made goods.
- PDVSA says it is negotiating oil sales to the United States under commercial terms similar to its Chevron dealings, as Energy Secretary Chris Wright says Washington will manage sales for an indefinite period.
- White House spokesperson Karoline Leavitt says the United States will dictate decisions by interim Venezuelan officials, and a Friday meeting at the White House is planned with Chevron, ConocoPhillips and ExxonMobil to discuss major investments.
- The Wall Street Journal reports the administration is studying a years-long effort to control PDVSA output and marketing, with Trump telling aides he hopes to drive prices toward $50 a barrel.
- Experts warn Venezuela’s heavy, high-sulfur crude is emissions-intensive and technically challenging, and Rystad estimates about $53 billion is needed to sustain current output and $183 billion to restore past peaks.