Trump says he’ll unleash Venezuela’s oil. But who wants it?

By: Jake Bittle/Grist

Outlets: Nevada Current

Published: January 7, 2026

Words: 1,594

Last Updated: 3 weeks, 5 days ago

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This story was originally published by Grist.

Shortly after launching a dramatic raid in which U.S. forces abducted Venezuelan leader Nicolás Maduro on Saturday, President Donald Trump justified the action with a promise to revive Venezuela’s moribund oil industry. The country has by far the largest claimed reserves of crude oil in the world, accounting for almost a fifth of the planet’s remaining known crude oil, but its production has plummeted under Maduro, …

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