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Venezuela will supply oil to the U.S. indefinitely, and the White House plans to ease sanctions against it
07/01/2026 01:00
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According to CNBC reporter Brian Sullivan on Wednesday, citing sources close to the White House, oil sales from Venezuela will continue indefinitely, while U.S. sanctions against Venezuela will be eased. Donald Trump On Tuesday, it was reported that Venezuela would hand over 30 to 50 million barrels of sanctioned oil and sell it at market prices. However, sources said that these 50 million barrels are only the first batch, and sales will continue indefinitely.The sources indicated that as part of the agreement, U.S. sanctions would be scaled back. According to data from energy consulting firm Kpler, Venezuela holds the world’s largest proven crude oil reserves, but its current daily production is only about 800,000 barrels.
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