Story perspectives

U.S. Takes Charge of Venezuela's Oil, Exports Soar

2/19/2026

Summary

Story summary

The U.S. gained control of Venezuela's oil industry after capturing President Nicolas Maduro in January 2026.
Energy Secretary Chris Wright reported that Venezuela became the U.S.'s fifth largest oil supplier, exporting over 150,000 barrels daily in early February.
The Trump administration introduced a new tax regime, with royalties and federal taxes overseen by the U.S. Treasury.
Despite 80% of oil sale funds being directed to priority sectors like food and medicine, transparency concerns remain.

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Story summary

The U.S. gained control of Venezuela's oil industry after capturing President Nicolas Maduro in January 2026.
Energy Secretary Chris Wright reported that Venezuela became the U.S.'s fifth largest oil supplier, exporting over 150,000 barrels daily in early February.
The Trump administration introduced a new tax regime, with royalties and federal taxes overseen by the U.S. Treasury.
Despite 80% of oil sale funds being directed to priority sectors like food and medicine, transparency concerns remain.