Trump: Venezuela will deliver 30-50 million barrels of oil to the United States

PANews January 7 News, U.S. President Trump stated on social media that the interim authorities in Venezuela will transfer 30 million to 50 million barrels of high-quality, sanctioned oil to the United States. These oils will be sold at market price, and the proceeds will be controlled by me to ensure they are used for the benefit of the Venezuelan and American peoples. I have instructed Energy Secretary Rick Perry to implement this plan immediately. The oils will be transported via storage and shipping vessels and directly delivered to U.S. unloading docks. Based on Tuesday’s closing price of WTI futures, the value of 30 million to 50 million barrels of oil is approximately $1.71 billion to $2.86 billion. According to ABC News, sources revealed that the Trump administration has informed Venezuela’s interim President Guaidó that he must meet the White House’s requirements to obtain further oil extraction permits. These requirements include that Venezuela must agree to cooperate exclusively with the U.S. in oil production and prioritize the sale of heavy crude oil to the U.S.