Trump Announces Venezuela Oil Supply for U.S., Amid Tensions Over Military Raid

The United States will receive 30 million to 50 million barrels of oil from Venezuela, President Donald Trump said Tuesday, with proceeds from the sale intended to benefit citizens in both countries. The announcement comes amid heightened tensions following a U.S. military operation targeting Venezuelan President Nicolás Maduro.

The White House plans a meeting Friday with top U.S. oil company executives, including representatives from Exxon, Chevron, and ConocoPhillips, to discuss opportunities in Venezuela’s oil sector. The administration has been urging Venezuela to open its energy industry to American investment and technical expertise.

U.S. Raid in Caracas Sparks Casualties

Venezuelan authorities reported significant casualties following a U.S. operation aimed at capturing Maduro. Acting President Delcy Rodriguez said at an address to government officials that threats from foreign powers do not determine her fate.

Venezuela’s Attorney General, Tarek William Saab, stated that “dozens” of officers and civilians died during the operation, which he described as a potential “war crime.” Cuban authorities previously confirmed that 32 Cuban military and police personnel working in Venezuela were also killed. The Pentagon reported seven U.S. service members sustained injuries, five of whom have returned to duty.

State media in Venezuela shared video tributes to fallen security officials, accompanied by patriotic displays and slogans reaffirming loyalty to Maduro’s government.

Oil Supply and Market Implications

Trump’s announcement could represent a transaction valued at up to $2.8 billion, based on current oil prices of roughly $56 per barrel. The U.S. consumes an average of about 20 million barrels of oil daily, meaning Venezuela’s contribution would cover approximately two and a half days of supply, according to the U.S. Energy Information Administration.

Although Venezuela holds the world’s largest proven crude reserves, it produces only about one million barrels per day, far below U.S. daily production of nearly 14 million barrels. The Venezuelan government has not immediately commented on the U.S. announcement.

ExxonMobil is also exploring a major offshore oil deposit in neighboring Guyana. Venezuela’s claim to the area, known as Essequibo, has reignited a longstanding territorial dispute and sparked previous legislative measures to restrict oil companies operating in Guyana from working in Venezuela.

Political Reactions and Global Context

Trump defended the military operation against criticism from Democrats, noting that previous administrations, including that of President Joe Biden, had also sought Maduro’s arrest on drug trafficking charges. Maduro faces federal drug trafficking charges in the United States, with a $50 million reward for information leading to his capture.

U.S. public opinion on the raid remains divided. A recent Washington Post/SSRS poll found roughly four in ten Americans supported the operation, while a similar proportion opposed it. Nearly half opposed U.S. involvement in determining Venezuela’s leadership, and most agreed Venezuelans should choose their own government.

Regional Tensions and International Responses

The raid has fueled concerns about a more interventionist U.S. posture in the Western Hemisphere. Trump has also renewed calls for U.S. control over Greenland and threatened military action in Colombia over drug trafficking, prompting formal protests from Bogota. Colombian Foreign Minister Rosa Villavicencio said she would meet with U.S. diplomats to clarify her country’s efforts against illicit drug trade and strengthen bilateral cooperation.

European leaders, including those from France, Germany, Italy, Poland, Spain, the United Kingdom, and Denmark, have defended Greenland’s sovereignty, emphasizing that decisions about the territory are for Denmark and Greenland to make.