Venezuela, Oil and Maduro
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Crude oil fell in early futures trading Sunday evening, while stock index futures started in the green The moves come after the U.S. operation in Venezuela that removed President Nicolás Maduro from Caracas.
Venezuela holds 300 billion barrels of oil reserves as Trump announces plans for major U.S. energy companies to invest billions in infrastructure.
Trump says the US will look to tap Venezuela's oil. Venezuela has the most oil reserves, but only accounts for 1% of global production.
1don 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.
PALM BEACH, Florida Jan 3 (Reuters) - President Donald Trump said that American oil companies were prepared to tackle the difficult task of entering Venezuela and investing to restore production in the South American country, an announcement that came just hours after Nicolás Maduro was captured and removed by U.S. forces.
"The physical global oil market situation remains the same. Oil prices have declined due to an oversupplied global oil market."
The oil market was already under pressure before the latest development, with crude futures falling 20% last year.
The U.S. military’s ouster of Venezuelan President Nicolás Maduro is set to swiftly reroute the country’s oil exports back toward the United States – and away from China. That will give U.S. refiners an immediate boost,
Oil futures fell Sunday night in the first trading session since the U.S. ousted Venezuelan strongman Nicolás Maduro and President Trump subsequently pledged to dispatch American drillers to revive the country’s crude output.