Oil is the cornerstone of the modern global economy. Despite attempts to divert away from fossil fuels and embrace green energy alternatives, the world marked its highest annual oil consumption in ...

Trump orders total blockade of Venezuelan oil tankers as the South American nation controls world's largest oil reserves with over 300 billion barrels.

President Donald Trump's new blockade on Venezuela’s sanctioned oil tankers takes square aim at a country that controls the world’s largest crude reserves. At more than 300 billion estimated barrels — ...

Venezuela's bitumen-heavy oil is virtually identical to Canada's and the South American country has the largest proven reserves in the world. But Venezuelan oil has essentially disappeared from world ...

A buildup of U.S. military forces in the Caribbean Sea is raising concerns about a potential strike on Venezuela, home to the world's largest oil reserves Nearly 70% of U.S. refining capacity runs ...

The president said in a Truth Social post Venezuela should return those assets to the U.S. and declared an oil tanker blockade.

The United States has been escalating pressure on Venezuela for months, from Trump's ultimatum demanding that President Nicolás Maduro leave with his family to warnings interpreted as preparations for ...