Trump's Venezuela Oil Dream Faces $100B, 10-Year Hurdle; No Quick Fix for Global Prices
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News18•04-01-2026, 20:15
Trump's Venezuela Oil Dream Faces $100B, 10-Year Hurdle; No Quick Fix for Global Prices
- •Donald Trump's plan to control Venezuela's oil industry faces massive challenges due to years of neglect, corruption, and sanctions, leaving the sector dilapidated.
- •Experts estimate rebuilding Venezuela's oil production to 4 million barrels/day from 1.1 million would require $100 billion investment and approximately 10 years.
- •A stable and trustworthy government is crucial for US oil companies to invest, with past nationalization under Hugo Chávez creating significant distrust among foreign investors.
- •Despite Venezuela holding the world's largest proven oil reserves (303 billion barrels), its current production is less than one percent of global supply.
- •No immediate impact on global oil prices is expected as Venezuela's industry is too weak, its current output is already factored into OPEC supply, and global availability is sufficient.
Why It Matters: Venezuela's oil recovery is a long, costly road requiring political stability, not a quick fix for global markets.
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