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Sources revealed that oil sales from Venezuela will continue indefinitely, while US sanctions against Venezuela will be reduced. Trump said on Tuesday that Venezuela will hand over 30 million to 50 million barrels of sanctioned oil and sell it at market prices. However, sources said that the 50 million barrels of oil are only the first batch, and sales will continue indefinitely. The source said US sanctions will be cut as part of the agreement. According to data from energy consulting firm Kpler, Venezuela has the world's largest proven crude oil reserves, but currently produces only about 800,000 barrels per day.

Zhitongcaijing·01/07/2026 14:01:16
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Sources revealed that oil sales from Venezuela will continue indefinitely, while US sanctions against Venezuela will be reduced. Trump said on Tuesday that Venezuela will hand over 30 million to 50 million barrels of sanctioned oil and sell it at market prices. However, sources said that the 50 million barrels of oil are only the first batch, and sales will continue indefinitely. The source said US sanctions will be cut as part of the agreement. According to data from energy consulting firm Kpler, Venezuela has the world's largest proven crude oil reserves, but currently produces only about 800,000 barrels per day.