The Trump administration says the United States will take charge of selling Venezuelan crude, starting with stored oil and then continuing “indefinitely,” according to comments from U.S. Energy Secretary Chris Wright. The plan follows President Donald Trump’s announcement that Wright would lead a U.S. effort to sell up to 50 million barrels of sanctioned Venezuelan crude that the country’s interim authorities have turned over to the United States.
Wright said the U.S. intends to market the oil into the global marketplace, beginning with “backed-up stored oil,” and then continuing with ongoing production from Venezuela. In the same remarks, Wright described the approach as an expanded move by the administration to pressure Venezuela’s interim government and, as characterized in the report, effectively place the United States in a role overseeing sales tied to Venezuela’s oil sector.
Trump’s plan to sell up to 50 million barrels could generate significant proceeds, and market analysts cited in the report estimated the sales could yield up to $2.5 billion. The report also described the proposed arrangement as a major escalation in how the Trump administration is seeking leverage over Venezuela through its oil industry.
How the sales would work
Wright said the U.S. will “market the crude coming out of Venezuela,” starting with the stored oil and then selling production “indefinitely” going forward. He framed the effort as a direct U.S. role in selling the oil into the marketplace rather than leaving those sales solely to Venezuelan operators.
The report said the crude in question is sanctioned Venezuelan oil that the country’s interim authorities have turned over to the United States. Trump, according to the report, announced that Wright would lead the plan and specified an amount of “up to 50 million barrels.”
Steps to get oil flowing
Wright said the U.S. would initially supply chemicals needed to get Venezuela’s “sludgy crude” flowing again. He also said the administration plans to work with the government to send supplies and equipment aimed at a “larger-scale revitalization.”
At the same time, Wright acknowledged that returning Venezuela to historic production levels would require “tens of millions of dollars and significant time,” according to the report. The article also noted that analysts project the investment needed to revive Venezuela’s deteriorated oil sector could reach into the billions, which has contributed to hesitation across the industry.
Industry talks and next meetings
Wright said he has been in discussions with U.S. oil companies about what conditions they would require to return to Venezuela. He also said restoring past production levels would not be quick or simple, signaling that a major ramp-up would take time and money.
The report said Wright was expected to meet with several industry executives about Venezuela on the sidelines of a conference on Wednesday. It also said he was expected to meet with oil companies at the White House on Friday, alongside Trump and other top administration officials, as the administration continues to shape the details of the approach.
What’s clear—and what isn’t yet
What is clear from Wright’s remarks is that the administration is describing a long-running U.S. role in selling Venezuelan oil, starting immediately with stored crude and extending to future production. It is also clear that the administration is positioning this oil-sales plan as part of its strategy toward Venezuela’s interim government and the sanctioned crude involved.
Beyond those points, Wright’s comments also highlighted practical constraints, including the time, capital, and industry confidence required to restore production and stabilize operations. The report emphasized that companies remain wary given both the scale of investment described by analysts and the risks tied to rebuilding a weakened oil sector.
