The recent detention of Venezuelan President Nicolás Maduro by the U.S. has sparked significant controversy, particularly regarding comments made by President Donald Trump. Trump suggested that Venezuela’s oil industry has become chaotic, and he stated that large American companies would be sent to the country to provide infrastructure support. This move is seen by many as part of a broader strategy by Trump to take control of Venezuela’s oil sector. According to reports, the U.S. aims to dominate the country’s oil reserves, which are among the largest in the world.Venezuela is estimated to hold 30.3 billion barrels of oil reserves, approximately 17% of global oil reserves. However, the country currently produces only about 1.1 million barrels per day, a fraction of its potential, due to years of mismanagement, corruption, and international sanctions. Experts say that it will take several years and significant investments to revitalize the industry. However, political instability in Venezuela remains a major barrier to attracting large-scale investments from American and foreign companies. Recently, Delcy Rodríguez, the country’s vice president, took an oath as interim president amid ongoing political uncertainty.
If political stability returns to Venezuela and a reliable government is established, major companies, including U.S. oil giants like ExxonMobil and Chevron, may return to invest. This could significantly boost Venezuela’s oil output, especially in the context of the global diesel shortage. U.S. officials believe that extracting more crude oil from Venezuela and increasing pressure on Russia would be advantageous. Additionally, increasing Venezuela’s oil production could help lower global oil prices, benefiting international markets, especially if Venezuela’s production capacity increases and Western nations, particularly in Europe, reduce their reliance on Russian oil.