During a press conference on Saturday in Florida, dedicated to the U.S. military operation in Venezuela, Trump announced plans for the United States to ramp up oil exports, supplying it to other countries. "We are in the oil business and will sell oil to those who need it, in significantly larger volumes. These countries cannot produce enough on their own, so we will supply large batches, bringing in new buyers," the president noted.
Trump also emphasized that the Venezuelan oil industry has been in decline for a long time, and its recovery will be financed by American oil companies. He stated that the largest corporations from the U.S. are planning to invest billions of dollars in restoring the devastated oil infrastructure of this country.
The president pointed out that the U.S. interest in Venezuela is partly due to its rich energy resources. "We seek to surround ourselves with stability and resources. Venezuela has significant reserves, and their protection is vital for us. They are necessary for ensuring peace," he added.
Trump also confirmed that the embargo on Venezuelan oil remains in effect following American strikes on Caracas. "The embargo on all Venezuelan oil remains fully in place, and that is very important," he said.
According to OPEC data, Venezuela ranks first in the world in oil reserves, amounting to about 303 billion barrels, while Saudi Arabia is in second place with 267 billion barrels. The top five also includes Iran, Canada, and Iraq, while Russia and the U.S. are among the top ten countries with the largest oil reserves. The statistics include both conventional crude oil and bituminous sands.
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