Trump, Venezuela and oil
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Global oil prices fell on Wednesday and China denounced the U.S. as a bully after President Donald Trump's administration said it had persuaded Venezuela to divert supplies from Beijing and import up to $2 billion worth of embargoed crude.
Venezuelan President Nicolás Maduro has been captured and flown out of the country following a largescale US strike on Caracas, leaving behind uncertainty for the country – and its massive oil reserves.
Oil traders and US refiners are rushing to position for access to Venezuelan crude after the Trump administration said it would take control of as much as 50 million barrels, one of the largest unexpected supply flows in years.
Oil prices steadied on Thursday after their recent slide, while stocks were off to a rocky start as investors assessed the implications of deepening geopolitical tensions and mixed U.S. labour market data.
Oil prices have slipped and precious metal prices jumped after U.S. forces captured Venezuelan President Nicolás Maduro in a weekend raid, adding to geopolitical uncertainty.
The oil market was already under pressure before the latest development, with crude futures falling 20% last year.
The global oil market is likely to be under pressure in 2026 as growing supply and weak demand curb prices, and traders monitor OPEC+ for policy signals and any attempts to bolster the market, a Reuters poll showed on Monday.
U.S. firms involved in the effort would face risks, León and Cinquegrana said. Chevron is currently the only U.S. oil firm operating in Venezuela, as part of a joint venture with the country's state-owned oil outfit.
White House says the United States will receive 30 million to 50 million barrels of Venezuelan oil at market price, with proceeds managed by the U.S. admin
Shares of major U.S. companies in the energy sector are sharply higher after President Donald Trump announced plans to take control of Venezuela’s oil industry and said American companies would revita
BPC Chairman Md Amin Ul Ahsan told The Business Standard that these contracts are usually signed for six months to one year
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