'Yes, we can take it': Trump claims 50 million Venezuelan barrels worth $4.2 billion
'Yes, we can take it': Trump claims 50 million Venezuelan barrels worth $4.2 billion are already en route
M.U.H
12/01/202615
US President Donald Trump said Washington is working 'along really well' with Venezuela’s leadership and claimed 50 million barrels of oil are already 'on its way' to the United States, a statement that underlines the administration’s fast-moving effort to control Venezuelan oil flows.
Speaking aboard Air Force One on Sunday, Trump said Venezuela’s acting president Delcy Rodriguez asked whether the US could take 50 million barrels. Trump said he agreed, valuing the shipment at $4.2 billion.
Control sales, pull in private capital
Trump’s comments come days after he met oil executives at the White House and urged them to move quickly into Venezuela, saying the administration is seeking about $100 billion in private investment to revive the country’s oil industry and develop its reserves.
In that meeting, Trump told executives they would deal 'directly with the US' rather than Venezuelan authorities, and promised 'total safety,' according to accounts of the discussions.
Trump has also said the US has seized tankers carrying Venezuelan oil and will take over the sale of 30 million to 50 million barrels of crude that had been under sanctions, with Washington controlling sales globally for an indefinite period.
Reuters has reported previously that the US was preparing to seize more tankers off Venezuela’s coast as part of a broader effort targeting sanctioned oil shipments.
Fifty million barrels is a big number politicallY, but in oil-market terms it’s also a reminder of how quickly supply gets absorbed: the US consumed about 20.25 million barrels of petroleum per day in 2023, implying 50 million barrels equals roughly 2.5 days of US demand at that pace.
