The Latest Breaking News from Oil

President Trump has set his sights on Venezuela's vast oil reserves, the largest in the world. If consolidated under Washington’s influence, about one third of global oil reserves could end up under US control. Yet, experts are skeptical about Trump's plans, saying it won't be cheap or easy.

U.S. forces are still planning to seize a runaway oil tanker to enforce its blockade off such vessels dealing with Venezuela, even despite it changed its name and was added to a Russian database.

President says a ‘tremendous amount of money’ will need to be spent repairing country’s infrastructure

A 2019 'Jack Ryan' scene where John Krasinski warns of Venezuela's strategic threats has gone viral after US forces captured Nicolás Maduro on 3 January 2026, highlighting oil wealth and instability

Venezuela and Greenland hold many of the critical minerals essential to AI and defense technology — and therefore future global dominance.

Venezuela's crude output has dwindled after years of underinvestment, mismanagement, and sanctions.

Jon Stewart slams US President Donald Trump over oil-linked justification for deadly Venezuela attack

In his international press conference on Monday, the Hungarian PM also praised Trump's Venezuela operation, and said Hungary will not fund Ukraine or accept migrants.

Doubling Venezuela's weakened oil flows could cost $110 billion and take until 2030.