Trump says Venezuela turning over up to 50 million barrels of oil to US
Venezuela is turning over 30 million to 50 million barrels of oil to the United States, according to President Donald Trump.
"This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!" he said Tuesday in a statement on social media.
The oil will be "taken by storage ships, and brought directly to unloading docks in the United States," Trump said.
He said he has asked Energy Secretary Chris Wright to "execute this plan, immediately."
Venezuela has roughly 303 billion barrels of crude oil, or about 17% of the world's reserves, according to the U.S. Energy Information Administration, a government agency.
The U.S. uses roughly 20 million barrels of oil per day and produces approximately 13.4 million barrels of crude oil a day, according to the agency and trade groups.










