In January 2026, the White House broadly opened the topic of controlling Venezuelan oil. This was when Donald Trump held a closed meeting that included senior executives from American and international oil companies, to discuss the future of the energy industry in Venezuela after the arrest of “Nicolás Maduro” and the transformation of Caracas into a direct American sphere of influence.
Trump called on companies to exploit Venezuela’s vast reserves, announcing the United States’ readiness to invest at least $100 billion. This step aims to transform Venezuela into a strategic tool in American energy policy. In addition to major American companies, the meeting also included Italy’s “Eni” and Spain’s “Repsol,” indicating Washington’s desire to create an international oil alliance led by it.
However, this political enthusiasm was not fully translated into the companies’ positions. The CEO of “Exxon Mobil” expressed remarkable reservations, while “Chevron” officials merely expressed “readiness to help,” bearing in mind that “Chevron” is the only American company that still holds a license to operate inside Venezuela.
Trump did not hide his real goal, which is to effectively control Venezuela’s oil for decades to come. This control would give the United States direct influence over the world’s largest oil reserve, which exceeds 300 billion barrels, weaken the Chinese presence, and push global energy prices down, as he seeks to fix the price at around $50 a barrel.
The US Secretary of Energy confirmed that Washington will take over the sale of stored Venezuelan oil and future production “indefinitely,” while Trump announced a preliminary agreement allowing the United States to obtain up to 50 million barrels of crude, with the proceeds used “for the benefit of both peoples.”
From an economic point of view, this plan seems full of contradictions. Despite its wealth, Venezuela produces only about one million barrels per day due to the deterioration of its infrastructure. The global market already suffers from a surplus in supply, with prices hovering around $58 a barrel. Sector estimates indicate that companies do not make profits in Venezuela unless the price exceeds $80, given that Venezuelan oil is among the heaviest and most costly to extract and refine.
However, major American companies have already begun preparing transportation fleets in preparation for transporting the crude stored in Venezuelan ports, indicating that Washington’s decision to dominate the country’s oil has become a reality, even if the economic feasibility remains questionable.
In this sense, the Trump administration does not treat Venezuela as merely an oil country, but as a new American strategic stockpile in the Western Hemisphere, used to change global energy balances and redraw economic and political influence in the region.
