U.S. Seizes Control of Venezuelan Oil for Strategic Leverage

The U.S. aims to control Venezuela's oil sales to influence change in the region. Energy Secretary Chris Wright highlights crude oil's role in U.S. strategy after the regime change. U.S. plans involve marketing Venezuelan oil, engaging global commodity firms, and encouraging American companies to boost Venezuelan production.

The United States plans to take control of Venezuela's oil sales, with Energy Secretary Chris Wright asserting the need for leverage to drive critical changes in the South American nation. The statement follows the removal of Nicolás Maduro and highlights crude oil's key role in U.S. strategy under President Donald Trump.

According to Wright, the U.S. will manage stored Venezuelan oil sales and export future production, ensuring revenues are controlled by the U.S. government. These actions align with Washington's agreement to export $2 billion of Venezuelan crude to America, signifying cooperation from Venezuela's government amid potential U.S. military threats.

The strategy aims to enhance Venezuelan oil production, inviting U.S. oil companies to invest in the region. Major U.S. oil companies, including Exxon Mobil, ConocoPhillips, and Chevron, are being courted for further investment, although the path to restoring past production levels is seen as a long-term project.

(With inputs from agencies.)