Trump eyes $50 oil with plan to seize control of Venezuela’s energy sector, oust Russia and China

U.S. President Donald Trump is preparing a sweeping initiative to establish long-term dominance over Venezuela’s oil industry, aimed at driving global crude prices down to $50 per barrel, The Wall Street Journal reported on Thursday.

According to sources familiar with the plan, the administration intends to fully control Venezuelan exports and displace Russian and Chinese influence in the region. U.S. Energy Secretary Chris Wright confirmed the goal of managing the country's output, while Vice President JD Vance emphasized that Caracas would only be permitted to sell oil if it serves U.S. national interests.

Trump further clarified on Truth Social that under the proposed deal, Venezuela would be required to spend all oil proceeds exclusively on American-made goods, including agricultural products, medicines, and energy equipment.