Key Highlights
- Shree Mishra Wed, January 7, 2026 at 5:20 PM GMT+5:30 2 min read CL=F Venezuela has come to an agreement with the US to export up to $2.8bn worth of oil, according to US President Donald Trump.
- The arrangement aims to redirect Venezuelan crude supply away from China to the US and help Venezuela mitigate further reductions in oil output, reported Reuters.
- The deal marks a shift in relations between the two nations.
- It indicates that Venezuela is willing to accommodate President Trump’s demands for increased access by US oil companies to the Venezuelan oil industry.
- Trump has called on Venezuela’s Interim President, Delcy Rodriguez, to open the country’s oil sector fully to US and other private companies, saying they should be given “total access”.
