US President Donald Trump said Tuesday that Venezuela would supply between 30 million and 50 million barrels of oil to the United States at prevailing market prices, saying the proceeds would be used for the benefit of both countries.
The announcement comes as the White House prepares to host senior executives from major U.S. energy companies later this week to discuss Venezuela’s oil sector and the possibility of expanding American investment in the country’s struggling energy industry.
Trump’s comments followed a weekend U.S. military operation in Caracas that led to the capture of Venezuelan President Nicolás Maduro and his wife. Venezuelan authorities said at least 24 security personnel were killed in the overnight raid, while the country’s attorney general said prosecutors are investigating what he described as possible war crimes.
Venezuela’s acting president, Delcy Rodríguez, rejected Trump’s warnings that she could face consequences if she fails to comply with U.S. demands, saying her destiny “is not decided by threats.” Cuba also confirmed that dozens of its military and police personnel stationed in Venezuela were killed during the operation.
The Pentagon said seven U.S. service members were injured in the raid, with most already returning to duty.
At current oil prices, the proposed shipment could be worth up to $2.8 billion, though it would cover only a few days of U.S. oil consumption. Despite having the world’s largest proven oil reserves, Venezuela’s daily output remains far below its capacity.
Trump dismissed criticism from Democrats, noting that Maduro had long faced U.S. drug trafficking charges. Opinion polls show Americans are divided over the operation, with many opposing U.S. involvement in choosing Venezuela’s future leadership.
The developments have raised international concern about a more aggressive U.S. foreign policy in the region.