Sun, 04 Jan 2026

Sun, 04 Jan 2026 Trump wants Venezuela's oil. Will his plan work?

Donald Trump has said that American oil firms will invest billions to produce oil in Venezuela.

* Venezuela has the world's largest proven oil reserves, with an estimated 303 billion barrels.
* However, output has dropped sharply since the early 2000s due to mismanagement and sanctions imposed by the US.
* The current production level is around 860,000 barrels per day, barely a third of what it was 10 years ago.
* Donald Trump wants American oil firms to invest billions in Venezuela's oil infrastructure and mobilize its reserves.
* Experts warn that this would be a complex and costly process, requiring tens of billions of dollars and potentially taking up to a decade to produce a meaningful uplift in oil output.
* Analysts say companies would need an agreement with the government, which will not be possible until Maduro's successor is in place, and there are huge legal and political hurdles to overcome.
* Companies like Chevron may be hesitant to invest due to the uncertain political situation and the potential for further sanctions.
* Even if Venezuela could return to previous production levels, it would still be outside the world's top 10 producers.
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