TRUMP: VENEZUELA TO DELIVER 30–50 MILLION BARRELS OF OIL TO THE U.S.

U.S. President Donald #Trump said in a social media post that #Venezuela ’s interim administration will transfer approximately 30–50 million barrels of sanctioned, high-quality crude oil to the United States. The oil will be sold at market prices, with proceeds directly controlled by Trump and used to “benefit the people of Venezuela and the United States.” He added that he has instructed Energy Secretary Wright to execute the plan immediately. The oil will be shipped by tankers and delivered directly to U.S. ports. Based on Tuesday’s WTI futures closing price, the oil is valued at roughly $1.71 billion to $2.86 billion.

According to ABC News, sources said the Trump administration has informed Venezuela’s interim president, Rodríguez, that further approval for oil production will be contingent on meeting White House demands. These reportedly include exclusive cooperation with the U.S. in oil production and prioritizing the U.S. when selling heavy crude.