Trump: Venezuela to Send U.S. 50 Million Barrels of Oil
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President Donald Trump says Venezuela will soon supply the United States with a large amount of oil. He stated the country will be "turning over" as many as 50 million barrels.
This follows his earlier comment that American oil companies could resume operations in Venezuela. He suggested they could be "up and running" there in about 18 months.
Venezuela holds the world's largest proven oil reserves. However, its production has collapsed due to years of economic crisis and U.S. sanctions.
The statements signal a potential major shift in policy. The U.S. has previously used sanctions to pressure Venezuela's government.