The Journal. Oil Companies Aren't Sold on Venezuela
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Jan 14, 2026 
Andrew Restuccia, a seasoned political and energy reporter for The Wall Street Journal, delves into President Trump's ambitious oil strategy for Venezuela. He explores Trump's objectives, including bolstering U.S. influence and securing Venezuelan oil reserves, while also revealing U.S. Coast Guard efforts to disrupt illicit operations. Despite the potential to reshape global oil markets, U.S. oil companies remain hesitant to invest due to past risks and concerns over low prices. The discussion highlights the complexities and political risks of this high-stakes gambit.
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U.S. Strategy To Control Venezuelan Oil
- The Trump administration aims to control Venezuela's oil to lower global prices and gain regional influence.
- Andrew Restuccia explains this could reshape the global oil market and challenge OPEC's power.
Shadow Fleet Kept Venezuelan Oil Flowing
- Venezuela used a shadow market and a fleet of old tankers to skirt Western sanctions and keep selling oil.
- The U.S. began disrupting that network by chasing, boarding, and seizing tankers to cut off illicit exports.
Targeting PDVSA To Acquire Oil Product
- The U.S. seeks control over PDVSA's output, likely via partnerships rather than direct long-term management.
- Goal is to acquire oil product and sell it on the open market to exert leverage and influence.