US Venezuela Oil Deal 2026: A $2 Billion Strategic Pivot Under Trump

The taps are opening, but Washington holds the key. Venezuela and the United States have reached a breakthrough deal to export up to $2 billion worth of crude oil to American shores. It's a move that reshapes energy flows in the Western Hemisphere, diverting supplies from China to help Caracas avoid a total production collapse.

US Venezuela Oil Deal 2026: Redirecting Flows from China

According to Reuters, President Donald Trump announced on Tuesday that the U.S. will receive between 30 and 50 million barrels of "sanctioned oil" currently trapped in storage due to the blockade imposed in December 2025. This flagship negotiation signals a drastic shift in the Venezuelan government's stance following the recent capture of Nicolas Maduro by U.S. forces.

Trump stated that the proceeds from these sales would be strictly controlled by the U.S. executive branch. "This money will be controlled by me... to ensure it is used to benefit the people of Venezuela and the United States!" he posted on social media. U.S. Energy Secretary Chris Wright is reportedly in charge of executing the logistics, ensuring the oil is shipped directly to U.S. ports.

Economic Impact and Chevron's Role

U.S. crude prices slipped by over 1.5% following the news, as the market anticipates a surge in heavy crude supply. Currently, Chevron remains the only major player operating without interruption, exporting between 100,000 and 150,000 bpd. The new deal could open doors for other partners like Eni, Repsol, and Reliance through the issuance of new U.S. licenses.

However, the transition remains politically charged. While U.S. Interior Secretary Doug Burgum hailed the move as "great news" for job security and gasoline prices, critics and loyalists to the former Maduro regime have labeled the capture and subsequent oil control as a violation of sovereignty.