Miami, Florida – In a significant escalation of U.S. involvement in Venezuela's oil sector following the dramatic capture of former President Nicolás Maduro, Energy Secretary Chris Wright declared on Wednesday, January 7, 2026, that the United States would oversee the marketing and sale of Venezuelan crude oil "indefinitely." Speaking at the Goldman Sachs Energy, CleanTech & Utilities Conference in Miami, Wright outlined plans to manage both existing stored supplies and future production, emphasizing the need for sustained U.S. leverage to drive reforms in the South American nation.
Wright's remarks built on President Donald Trump's announcement the previous day, in which Trump stated that Venezuela's interim authorities had agreed to transfer between 30 and 50 million barrels of sanctioned crude oil to the United States. The president estimated the value of this initial batch at over $2 billion at current market prices, with proceeds to be placed under U.S. control and directed toward benefiting both countries' people.
“We’re going to market the crude coming out of Venezuela, first this backed-up stored oil, and then indefinitely, going forward, we will sell the production that comes out of Venezuela into the marketplace,” Wright said during the conference. He stressed that this control was essential "to drive the changes that simply must happen in Venezuela," highlighting the need for cooperation and pressure between Washington and Caracas.
The developments come in the wake of a U.S. military operation on January 3, 2026, that resulted in the capture of Maduro and his wife, Cilia Flores, in Caracas. The couple was subsequently flown to New York, where Maduro pleaded not guilty to longstanding drug-trafficking charges in a U.S. federal court. Maduro has described the operation as a "kidnapping" and claimed prisoner-of-war status.
Following Maduro's removal, Venezuela's Supreme Court ordered Vice President Delcy Rodríguez to assume the role of interim president, and she was formally sworn in on January 5. Rodríguez, a longtime Maduro ally and former oil minister, has adopted a pragmatic tone, expressing readiness to "work with the U.S." for a balanced relationship during the transition, though she initially condemned the capture as an "atrocity."
Wright, a former oil and gas executive appointed by Trump, indicated that the U.S. would ease certain sanctions on Venezuela's oil sector to facilitate exports. This includes supplying diluting agents necessary for processing the country's extra-heavy crude and allowing the importation of spare parts, equipment, and services to prevent an industry collapse. He argued these measures would stabilize production in the short term and enable gradual increases.
In the near term, Wright projected that modest investments and revival efforts could boost output by several hundred thousand barrels per day. Long-term restoration to Venezuela's historical peak of over three million barrels daily, he acknowledged, would require "tens of billions of dollars" and considerable time, given aging infrastructure and other constraints. Venezuela holds certified reserves representing roughly a fifth of the world's total, making its potential recovery a major factor in global energy markets.
President Trump, in his Tuesday statement, directed Wright to "execute this plan, immediately," specifying that the initial 30-50 million barrels would be transferred via storage ships directly to U.S. ports. The arrangement has raised questions about its implementation, the formal agreement from Rodríguez's interim government, and its legal foundation under international law.
Critics, including some international observers and U.S. lawmakers, have expressed concerns over the unprecedented level of control over a foreign nation's resources. The United Nations Human Rights Office described the U.S. intervention as making "the world less safe," while world reactions to the strikes have ranged from condemnation to cautious observation. Meanwhile, the Trump administration, through Secretary of State Marco Rubio, has framed the strategy as a three-step process: stabilization, economic recovery, and eventual transition.
The plan also involves seizing sanctioned tankers and redirecting oil flows, with reports of U.S. forces taking control of vessels in the Atlantic. Oil industry executives attending the Miami conference heard Wright's pitch amid skepticism about rapid private investment in Venezuela, given lingering political risks.
As the situation evolves, the U.S. move could disrupt supplies previously routed to allies like China and open opportunities for American refiners equipped to handle heavy crude. However, analysts warn that any surge in Venezuelan output faces hurdles from low global prices, infrastructure decay, and uncertainty over the interim government's stability.
Wright concluded his remarks by noting the rapid shift in Venezuela's landscape: "Think about where Venezuela was a week ago. It’s a little different today, but everything else is largely the same. This is going to require cooperation and pressure between the United States and Venezuela."
The full implications for global energy markets, U.S.-Venezuela relations, and regional stability remain unfolding, with the Trump administration signaling no immediate end to its hands-on approach.
