US President Donald Trump said on Tuesday that Venezuela interim government has agreed to deliver between 30 and 50 million barrels of oil to the United States. He said the proceeds from the sale of the oil would be overseen by him as president.
In a social media post, Trump said the oil would be sold at market prices and that the funds would be managed to benefit both Venezuela and the United States. He added that US Energy Secretary Chris Wright would be responsible for implementing the arrangement.
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The announcement follows increased US pressure on Venezuela, including an export blockade imposed in mid-December. That blockade left millions of barrels of Venezuelan crude stranded on tankers and in storage facilities, limiting the country’s ability to ship oil abroad.
🚨 President Donald J. Trump announces Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America pic.twitter.com/F58oaQYs7Q
— Cynical Publius (@NiNaWintz) January 7, 2026
Trump said Venezuela’s interim leadership was responding to US demands to open the country’s oil sector to American companies. He has repeatedly called for what he described as full access for US firms to Venezuela’s oil industry.
The move comes after US military action in Venezuela over the weekend, during which President Nicolás Maduro was removed and detained. Venezuelan officials have accused Washington of attempting to seize control of the country’s vast oil resources.
According to industry sources, supplying oil to the US could involve diverting cargoes that were originally destined for China. China has been Venezuela’s largest oil buyer over the past decade, particularly after US sanctions were expanded in 2020.
US crude prices fell following Trump’s announcement, as markets reacted to the prospect of increased Venezuelan supply. Analysts said the additional barrels could ease pressure on heavy crude markets in the US Gulf Coast.
Currently, most Venezuelan oil exports to the US are handled through Chevron, which operates joint ventures with Venezuela’s state oil company PDVSA under a special US authorisation. It remains unclear how much access Venezuela will have to the proceeds, as sanctions continue to restrict PDVSA’s financial operations.
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US and Venezuelan officials have reportedly discussed possible sales mechanisms, including auctions and special licences. Officials have also explored whether Venezuelan oil could eventually be used to replenish the US Strategic Petroleum Reserve.