Earthquake in Oil Markets: Venezuela Turns Back on China, Sends $2B Oil Shipment to U.S.

Venezuela and Washington have reached an agreement to export up to $2 billion worth of crude oil to the United States, Reuters reports. The move is seen as a direct reflection of President Donald Trump’s objectives following a military operation in Venezuela that led to the arrest of Nicolás Maduro and his wife last Saturday (03.01.2026). Just days after the intervention, the deal between the U.S. and Venezuela involves rerouting oil supplies away from China and could help Venezuela avoid deeper production cuts. China has denounced the action as “coercion,” while Washington frames it as part of a strategy to control Venezuela’s vast oil reserves after Maduro’s ousting. The agreement triggered immediate market reactions, with investors reassessing supply and demand expectations. According to Reuters, it signals Venezuela’s compliance with Trump’s demand to grant American oil companies full access—or face further military intervention. Trump insists that interim President Delcy Rodríguez must provide the U.S. and private firms “full access” to Venezuela’s oil industry. The country already has millions of barrels loaded on tankers and in storage, unable to ship due to Trump’s export embargo imposed in mid-December. Trump claims Venezuela will deliver up to 50 million sanctioned barrels to the U.S., with proceeds under his personal control. “This oil will be sold at market price, and I, as President of the U.S., will control the funds to ensure they benefit both the Venezuelan people and the United States!” he posted on Truth Social. U.S. Energy Secretary Chris Wright is overseeing implementation. The oil will be transferred directly to American ports. Venezuela has not officially confirmed the deal. Two Reuters sources indicate initial shipments may involve redirecting cargo originally bound for China, Venezuela’s largest buyer over the past decade—especially after U.S. sanctions in 2020 targeted firms trading Venezuelan oil. “Trump wants this done quickly so he can claim a major victory,” said an industry source.