Trump Secures 30-50 Million Barrels of Venezuelan Oil at Market Price

The deal sparks controversy as tensions escalate over Venezuela's political turmoil and oil production.

Apr. 12, 2026 at 3:03pm

Got story updates? Submit your updates here. ›

A highly textured, fragmented painting of a Venezuelan oil barrel in shades of red, ochre, and blue, conveying the turbulent nature of the political and economic situation surrounding the oil transaction.The controversial oil deal between the U.S. and Venezuela exposes the complex political and economic tensions at play in the region.Today in Orlando

Amidst escalating tensions, President Donald Trump has announced that the United States will acquire between 30 million and 50 million barrels of oil from Venezuela at market price. The White House is set to meet with major U.S. oil companies to discuss the details of this potential transaction, which could significantly impact the global oil market. The timing of this announcement comes after a recent military operation that led to the capture of Venezuelan leader Nicolás Maduro on drug charges, raising questions about the future of Venezuelan oil and the region's stability.

Why it matters

This oil deal could have far-reaching implications for the global energy landscape, as the U.S. seeks to secure additional oil supplies amidst ongoing geopolitical tensions. However, the transaction has sparked controversy, with the Venezuelan government responding defiantly and the American public divided on the military operation that led to Maduro's capture.

The details

The potential oil deal, valued at up to $2.8 billion, would see the U.S. acquire a significant portion of Venezuela's oil production, which currently averages around one million barrels per day. This move comes as the U.S. looks to diversify its energy sources and reduce its reliance on other major producers. The White House has stated that the proceeds from the deal will benefit both the U.S. and Venezuela, but this claim has been met with skepticism from the Venezuelan government.

  • The military operation that led to Nicolás Maduro's capture occurred in recent weeks.
  • The White House is set to meet with U.S. oil company executives on Friday to discuss the details of the potential oil transaction.

The players

President Donald Trump

The current President of the United States, who has announced the potential oil deal with Venezuela.

Nicolás Maduro

The former Venezuelan leader who was recently captured on drug charges, raising questions about the future of Venezuelan oil and the region's stability.

Delcy Rodriguez

The acting president of Venezuela, who has responded defiantly to the U.S. oil deal announcement, warning that she will not be swayed by threats.

Exxon

One of the major U.S. oil companies that is expected to participate in the White House meeting to discuss the potential oil transaction.

Chevron

Another major U.S. oil company that is expected to participate in the White House meeting to discuss the potential oil transaction.

Got photos? Submit your photos here. ›

What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.