US President Donald Trump has claimed that Venezuela’s interim authorities have agreed to transfer a massive quantity of sanctioned crude oil—between 30 million and 50 million barrels—to the United States, with the proceeds from its sale to be placed under his direct control and used, as he put it, for the benefit of both nations.
Trump made the announcement on Tuesday through a post on Truth Social, just days after US forces carried out a dramatic operation to seize Venezuelan leader Nicolás Maduro, an event that has fundamentally altered Venezuela’s political landscape. In his statement, Trump said the interim leadership in Venezuela would immediately hand over a large volume of what he described as “high-quality, sanctioned oil” to the US.
According to Trump, the oil would be sold at prevailing market prices, but the resulting revenue would not flow directly to Venezuelan authorities. Instead, he asserted that the funds would be controlled by him in his capacity as President of the United States. He described this arrangement as a way to ensure that the money would be used in a manner that benefits both the Venezuelan people and the United States, an assertion that amounts to an extraordinary claim of presidential authority over the sale of another country’s natural resources.
Trump further said the oil transfer would be carried out without delay. He stated that he had instructed Chris Wright, the US Energy Secretary, to implement the plan immediately. According to Trump, the oil would be loaded onto storage vessels and shipped straight to American ports, where it would be unloaded for processing or sale.
The announcement comes as Washington continues to present the removal of Maduro as a decisive turning point for Venezuela, with Trump and his allies framing the development as both a political reset and an economic opportunity. At current oil prices—around $56 per barrel—the shipment Trump described could be worth as much as $2.8 billion, according to estimates cited by the Associated Press.
In practical terms, however, the volume involved would make up only a small fraction of US energy needs. The United States consumes roughly 20 million barrels of oil and petroleum products per day, meaning that even the upper estimate of 50 million barrels would amount to roughly two to two-and-a-half days of national supply, based on figures from the US Energy Information Administration.
The contrast between the two countries’ oil sectors remains stark. Although Venezuela holds the world’s largest proven crude oil reserves, years of mismanagement and sanctions have reduced its output to about one million barrels per day. By comparison, US oil production averaged around 13.9 million barrels per day in October, underscoring the scale gap between the two producers.
Separately, the White House is reportedly preparing to convene a meeting in the Oval Office later this week with senior executives from major oil companies to discuss Venezuela. Representatives from Exxon, Chevron, and ConocoPhillips are expected to attend, highlighting the administration’s broader focus on reshaping Venezuela’s oil sector in the aftermath of Maduro’s removal.
