Trump Announces Venezuela to Export Up to 50 Million Barrels of Oil to U.S.

1 min read
Source: Al Jazeera
Trump Announces Venezuela to Export Up to 50 Million Barrels of Oil to U.S.
Photo: Al Jazeera
TL;DR Summary

President Trump announced that Venezuela will transfer 30 to 50 million barrels of sanctioned oil to the US, with plans to sell it at market prices and use the revenues to benefit both nations. The move aims to revive Venezuela's oil industry and involves US energy companies, though the impact on global supply is modest given current production levels. Experts express uncertainty about the details and feasibility of the plan, especially regarding investment and infrastructure rebuilding.

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