Trump says Venezuela ‘illegally’ took US oil
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President Trump said the United States wanted to reclaim expropriated oil assets, setting off a nationalist reaction in a country where the resource holds a mythical status.
Drilling for oil and gas in the Arctic National Wildlife Refuge and the Beaufort Sea off Prudhoe Bay in Alaska would be a massive undertaking. These projects require years of development and are subject to future reversals in federal policy—just as Trump has lifted long-standing drilling bans in those areas, at least for now.
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Pessimism and uncertainty continue to weigh on oil and gas industry
Dallas Fed Q4 energy survey shows oil and gas activity down, hiring contracting, and 2026 capex flat to lower amid price uncertainty.
Tensions between Venezuela and the U.S. have been growing over the past few months. And last Wednesday, the pressure point was oil. The U.S. government seized a tanker it says was filled with illegal oil headed to the black market,
Despite recent momentum, XES lags peers on 5- and 10-year performance and faces slow growth. Read why XES ETF is rated a Hold.
Crude oil output reached an estimated 5.9 million barrels per day in November, the highest level ever recorded in U.S. history, according to U.S. Energy Information Agency data.
The president’s posture toward Venezuela isn’t new. He previously has said the U.S. should seize oil from Iraq and Syria.
NPR's Scott Detrow talks with Francisco Monaldi, the director of the Latin American Energy Program at the Baker Institute at Rice University about the U.S.'s long interest in Venezuela's oil industry.