The U.S. plans indefinite control over Venezuelan oil sales, aiming to market 30-50 million barrels amid ongoing sanctions.

The U.S. needs to control Venezuela's oil sales and revenue indefinitely to stabilize that country's economy and rebuild its oil sector, Energy Secretary Chris Wright said on Wednesday. The comments reflect the importance of crude oil to President ‌Donald Trump's strategy in Venezuela after U.S. forces ousted the country's leader,…

Venezuela sits atop the world’s largest oil reserves but accounts for only about 1 per cent of global supply. Read more at straitstimes.com. Read more at straitstimes.com.

The Trump administration will sell Venezuelan oil "indefinitely" and control the proceeds, Energy Secretary Chris Wright announced Wednesday, as part of the administration's broader strategy to manage Venezuela's oil exports and rebuild its energy sector. | Economy

The Trump administration will sell Venezuelan oil "indefinitely" and control the proceeds, Energy Secretary Chris Wright announced Wednesday, as part of the administration's broader strategy to manage Venezuela's oil exports and rebuild its energy sector. | Economy

The US plans to oversee the sale of Venezuelan oil “indefinitely”, Energy Secretary Chris Wright said on Wednesday, while President Donald Trump added that the proceeds would be used to "only" buy American goods.

Chris Wright said the Trump administration was in “active dialogue” with Venezuela’s government about the plan.