U.S. to control Venezuela’s oil sales indefinitely, Energy Secretary says

Miami.- The United States will control Venezuela’s oil sales indefinitely and deposit the revenue into U.S. government-controlled accounts, U.S. Energy Secretary Chris Wright announced this Wednesday at a Goldman Sachs energy conference in Miami.

Wright said Washington plans to market Venezuelan crude on the global market, starting with oil currently in storage and continuing indefinitely with future production. Under this strategy, the U.S. government—not private companies—will oversee sales and collect proceeds.

The move follows a recent announcement by U.S. President Donald Trump that Venezuela will deliver 30 to 50 million barrels of oil to the United States for sale in the North American market. Wright said the revenue will be held in accounts controlled by the United States and could later be used to benefit the Venezuelan people, but only after Washington exercises control over how the oil is sold.

Wright also emphasized that this oil policy is part of a broader effort to stimulate political and economic change in Venezuela, noting that U.S. refiners and global customers will be able to buy Venezuelan crude under U.S. supervision. He described the approach as essential to wielding leverage and encouraging reforms in Venezuela’s long-struggling oil sector.