Ahmed Kamel – Egypt Daily News
Former U.S. President Donald Trump and his advisers are exploring plans to exert long-term influence over Venezuela’s oil sector as part of a broader strategy to push global crude prices down to around $50 per barrel, according to reports by The Wall Street Journal cited by Reuters.
The newspaper reported, citing informed sources, that Trump has told aides he believes tighter U.S. control over Venezuelan oil production and exports could play a significant role in lowering global energy prices. The plan under discussion would involve Washington exercising a degree of control over Petróleos de Venezuela (PDVSA), the state-owned oil company that dominates the country’s energy industry.
According to the report, the proposal includes the United States purchasing and marketing a substantial share of PDVSA’s oil output, effectively giving Washington leverage over how Venezuelan crude is sold on global markets. The arrangement could build on existing and former joint ventures between PDVSA and major international oil companies, including U.S.-based Chevron, which has maintained a limited presence in Venezuela despite years of sanctions.
The Wall Street Journal said U.S. officials are considering mechanisms that would allow American entities to buy Venezuelan oil directly and potentially manage its distribution, a move that would mark a significant shift in Washington’s approach toward Caracas after years of economic pressure and diplomatic isolation.
PDVSA has previously acknowledged making progress in negotiations with the United States over oil sales. A member of the company’s board told Reuters that any agreement would require Washington to purchase Venezuelan crude at prevailing global market prices, underscoring Caracas’s resistance to selling oil at a discount.
Earlier this week, Washington announced an agreement with Venezuela that could allow the United States to acquire up to $2 billion worth of Venezuelan crude. The deal was widely seen as a signal that Venezuelan authorities are responding to Trump’s demands to open the oil sector more fully to U.S. companies, or risk facing increased economic and potentially military pressure.
Venezuela holds the world’s largest proven oil reserves, but years of mismanagement, underinvestment, and U.S. sanctions have sharply curtailed its production capacity. Any significant U.S. role in reviving and directing Venezuelan oil output could have wide-ranging implications for global energy markets, OPEC dynamics, and relations with major oil producers.
Analysts note that while increasing Venezuelan supply could contribute to downward pressure on prices, achieving a sustained drop to $50 per barrel would depend on multiple factors, including global demand, geopolitical tensions, and production decisions by other major exporters.
The reported plan highlights how energy policy remains central to Trump’s broader economic and geopolitical vision, with oil prices viewed not only as a market variable but also as a strategic tool in U.S. foreign policy.
