Trump Announces Venezuela to Give Up to 50 Million Barrels of Oil to U.S.

Trump Announces Venezuela to Give Up to 50 Million Barrels of Oil to U.S.

The United States has reached a significant agreement with Venezuela, with President Trump announcing that the country will give up to 50 million barrels of oil to the U.S.

Background

This announcement comes days after U.S. forces attacked Venezuela and captured its leader, Nicolas Maduro, to be prosecuted on drug-trafficking charges. ^[1]

Details of the Agreement

According to sources, the agreement between the U.S. and Venezuela involves the transfer of up to 50 million barrels of oil from Venezuela to the U.S. ^[2]

Impact on the Market

The announcement has sent shockwaves through the oil market, with prices fluctuating in response to the news. ^[2]

Cramer's Warning

CNBC's Jim Cramer has warned that the January rally is driven by emotion and not all stocks will hold up, urging investors not to get greedy. ^[3]

Russia's Involvement

Russia is also benefiting from Trump's Venezuelan oil plan, with the country reflagging sanctioned vessels involved in the Venezuelan oil trade. ^[4]

Sources

[1] Trump says Venezuela to give up to 50 million barrels of oil to U.S.
[2] Trump says Venezuela to turn over 30 to 50 million barrels of oil to US
[3] Cramer warns the January rally is driven by emotion and not all stocks will hold up
[4] How Russia is benefiting from Trump's Venezuelan oil plan