Trump relinquishes Venezuela's OPEC role

U.S. President Donald Trump affirmed that Venezuela's decision to withdraw from OPEC, which it joined over 60 years ago, is a matter for the Venezuelan government and not for the United States. These remarks come amid Washington's increased scrutiny of the Venezuelan oil sector following the detention of President Nicolás Maduro in January, and after signing agreements to boost oil exports to the U.S. Trump announced that the United States controls 17 oil fields in Venezuela containing approximately 64 billion barrels of proven reserves. He indicated that this could provide up to 1.5 million barrels per day in supplies to the United States, with companies like ExxonMobil and Chevron participating in investments in the sector.

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