US President Trump Announces US Will Refine and Sell Up to 50 Million Barrels of Venezuelan Oil

US President Donald Trump, on January 9, 2026, announced that the US will refine and sell immediately about 50 million barrels of Venezuelan oil, even though the caretaker president Nicolás Maduro has just been removed from office. Trump, through a post on his Truth Social, praised the decision as a victory for both countries, and the sales proceeds were to be used for American goods that would be available to the citizens of Venezuela under the interim administration headed by Delcy Rodríguez, who is the current vice president. ​

Strategic Context

The announcement is the end of a military operation of the US, which captured Maduro along with his wife, and was presented as a recovery of “stolen” oil assets worth billions, platforms, and infrastructure that were seized from American companies like Chevron. Trump charged Secretary of Energy Chris Wright with rapid execution, sending storage ships to Gulf refineries that are already holding barrels of oil that have been extracted and priced at $55 each, which could bring in $0.65-0.75 billion.​

Economic Implications

The US crude prices fell by almost 2% to $56/barrel after the announcement; this was, at the same time, a relief for the inflation concerns that were raised during Trump’s tariff campaign. The money to be spent would be exclusively for agricultural, medical, and energy equipment from the United States, which would make America the number one partner for Venezuela and, at the same time, revitalise its industry, which once had the world’s largest reserves. 

Administration Plans

Trump invites oil company executives to the White House on January 9, aiming to obtain billions in investments, and promising reconstruction in spite of instability concerns. Secretary of State Marco Rubio sketched out a three-tier plan for perpetual US control of sales, dismissing “colonialism” allegations from Democrats who are legally unclear about the situation. 

Global Reactions

The interim government of Venezuela is cooperating, but analysts claim that it would take ten years and billions of dollars for the full revival; the Oil majors want federal guarantees for their investments, considering the risks. Trump is looking to dominate the US operation globally for 18 months, thus lowering prices and providing assistance for reconstruction.