US EditionTrump considers taking control of Venezuela's PDVSA, lower oil prices to $50 a barrel, WSJ reports
The US plans to supply up to 50 million barrels of Venezuelan oil and use proceeds under US oversight to finance American goods, aiming to lower domestic oil prices.
- Trump wants to gain control of Venezuela's oil company PDVSA and lower oil prices to $50 per barrel, according to The Wall Street Journal.
- China, one of Venezuela's biggest oil customers, is rapidly transitioning to electric vehicles, reducing its oil demand from Venezuela.
- While China could procure oil from Russia or Iran, analysts project China's overall oil demand will trend downward as it shifts to renewables and electric vehicles.
26 Articles
26 Articles
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Associated Press News
Trump has a China problem in Venezuela: What to do with Beijing's debt and oil stakes
President Donald Trump’s plan to control Venezuela's oil industry and counter China's influence could clash with his goal of stabilizing trade with Beijing.
Why Trump Underestimates the Challenge of Reviving Venezuela’s Oil
Earlier in the week, U.S. President Donald Trump announced that Venezuela’s interim authorities will be turning over up to 50 million barrels of oil to the United States, before later declaring his administration will control Venezuela's oil sales 'indefinitely'. Trump has decried the state of Venezuela’s oil sector, noting that the country is producing well below its full potential. “They were pumping almost nothing by comparison to what they c…
Trump considers taking control of Venezuela's PDVSA, lower oil prices to $50 a barrel, WSJ reports
U.S. President Donald Trump and his advisers are planning an initiative to dominate the Venezuelan oil industry for years to come, and the president told aides he believes his efforts could help lower oil prices to $50 a barrel, the Wall Street Journal reported on Wednesday.
Trump wants to own Venezuela’s oil, but its largest oil customer is speeding toward clean energy
Energy experts say the US and China are diverging on the energy transition, with China sprinting far ahead on renewables and EVs, while the US doubles down on drilling oil at home and abroad.
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