Trump hails Venezuelan oil boom, calls Caracas 'new friend and partner'

2026-02-27 - 23:12

President Donald Trump touted a dramatic increase in Venezuelan crude oil exports Friday, describing the energy partnership as mutually beneficial and referring to Caracas as a "new friend and partner." Speaking at an event in Texas, Trump highlighted the surge in oil flows as evidence of improved bilateral relations following months of heightened tensions. Oil Numbers and Partnership "Think 80 million barrels of oil. Think of what that means," Trump said. "It's great for Venezuela, and it's great for us." He noted that crude oil exports from Venezuela are up by hundreds of thousands of barrels per day, with 360,000 barrels currently sitting in a tanker visible from the event. "With our new friend and partner, Venezuela, we're going to do a lot of other things. We're going to be doing a lot. We're having a great relationship with their government," he added. Post-Maduro Landscape The president's warm words mark a dramatic shift from the US posture toward Venezuela just weeks ago. On January 3, US forces captured Venezuelan President Nicolas Maduro, triggering a series of developments including Delcy Rodriguez being sworn in as interim president, changes to the country's flagship oil law, and the release of some political prisoners. The new relationship appears centered on energy cooperation, with US markets now receiving substantial Venezuelan crude that was previously blocked by sanctions. Strategic Implications Trump's characterization of Venezuela as a "partner" represents a significant geopolitical realignment, potentially reducing Caracas's dependence on China and Russia while providing the US with additional oil supplies. The arrangement benefits Venezuela's struggling economy while supporting US energy needs, though it remains unclear what concessions Washington may have offered in exchange for the oil flows and whether the relationship will extend to other areas of cooperation.