The NPR Politics Podcast What does President Trump plan to do with Venezuela’s oil?
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Jan 8, 2026 
Camila Domonoske, NPR's business correspondent specializing in energy, dives into President Trump's intriguing plans for Venezuela's oil reserves. She clarifies that the 30-50 million barrels in question are blocked by sanctions, not part of new production. The discussion covers the hefty billion-dollar value of this oil, Trump's messaging around reclaiming it, and the geopolitical implications of controlling Venezuelan resources. Camila also raises critical questions about market impact, investment risks, and the feasibility of rebuilding Venezuela's oil output.
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Trump Refers To Existing Stored Oil
- The 30–50 million barrels President Trump referenced are stored Venezuelan oil that built up due to U.S. sanctions and blockades.
- This is existing production, not a sudden surge in Venezuelan output.
Seizing Oil Is Largely Political Messaging
- Trump frames seizing that oil as a political message about reclaiming U.S. interests and energy dominance.
- Franco Ordoñez says this largely serves domestic messaging rather than an immediate economic fix.
Market Impact Will Likely Be Modest
- Global oil markets are currently oversupplied, so redirecting Venezuelan barrels is unlikely to spike major price shifts.
- Venezuelan crude is heavy and discounted, but U.S. refineries can process it and would accept modest increases.