Listen to this articleCrude oil drips from a valve at an oil well operated by the Venezuelan state oil company PDVSA, in the Orinoco belt, near Morichal in Monagas state. (Reuters File Photo)Caracas and Washington have reached a deal ​to export up to $2 billion worth of Venezuelan crude oil to the United States, President Donald Trump said on Tuesday, which would divert supplies from China while helping Venezuela avoid deeper oil production cuts. Trump has said he wants interim President Delcy Rodriguez to give the US and private companies “total access” to Venezuela’s oil industry. “Trump wants this to happen early so he can say it is a big win,” an oil industry source said. Venezuelan government officials and PDVSA, the Venezuelan state-owned oil company, did not provide comment.

Source: Bangkok Post January 07, 2026 09:43 UTC