KARACHI: US President Donald Trump has openly stated that Venezuela’s interim government will supply up to 50 million barrels of oil to the United States, confirming Washington’s direct control over the country’s energy revenues. Trump said oil income from Venezuela would be managed by him, as the US seeks to lower global oil prices and expand American energy influence.
The remarks signal mounting pressure on Venezuela’s interim leadership, with Trump warning of further military action unless US companies are granted full access to Venezuela’s oil sector and economic ties with China, Russia, Iran, and Cuba are severed. Analysts say the developments underline Washington’s strategic objective: securing control over one of the world’s largest oil reserves.
Venezuela holds nearly 17% of global proven oil reserves, but production has collapsed under years of sanctions, averaging under one million barrels per day in late 2025. Despite reports of stranded crude and field shutdowns, oil markets have shown limited reaction, with Brent crude trading around $60 per barrel, reflecting weak global demand and oversupply.
Energy experts warn that while short-term price impacts remain muted, long-term risks are significant. US-led recovery of Venezuelan oil output could deepen global oversupply, weaken the influence of OPEC+, and reshape energy trade flows by redirecting Venezuelan crude away from traditional buyers in Asia and Europe.
The move is also seen as part of Washington’s broader effort to reinforce the dollar-based oil trade system and counter de-dollarisation trends. Analysts caution that increased geopolitical control over energy resources may fuel long-term instability and fragment global oil markets.