Venezuela, Oil Reserves
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the US Has Designs on Venezuela's Oil
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5don MSN
U.S. seeks to tap Venezuela's vast oil reserves after military strikes. Here's what to know.
President Trump said "we're going to get the oil flowing the way it should be" after the surprise U.S. attack. Here's what to know about Venezuela's oil sector.
1don MSN
Trump reserves right to use military force to secure oil interests in Venezuela, White House says
The Trump administration has built up military forces in the Caribbean including the deployment of the USS Gerald R. Ford and its carrier strike group.
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world China’s biggest oil companies are scrambling for direction as Washington turns up the heat on Venezuela.
There is no 100% guarantee that Venezuela's oil reserves are completely accessible. Figuring that out, experts say, will be step one in figuring out who will benefit and when.
In a social media post on Tuesday, Trump said Venezuela would hand over 30 to 50 million barrels of oil to the U.S., which in turn would sell them at their market price. The resulting funds -- as much as $2.8 billion at current prices -- will “benefit the people of Venezuela and the United States,” Trump said.
The reactivation of Venezuela's oil sector faces an environment of high political uncertainty, structural constraints and institutional deterioration.
Once one of the world's richest nations, Venezuela has faced a decadeslong collapse that triggered one of the largest migrations in history.
Two of the three major US oil companies pulled business out of Venezuela nearly two decades ago after assets were seized