China bought ‘legitimate’ Venezuelan oil from US after Maduro seizure, energy secretary says
A major geopolitical shift in global energy markets is quietly unfolding.
Deep Dive
The US is now selling Venezuelan crude oil it seized after January's military intervention, with China emerging as a key buyer. Energy Secretary Chris Wright confirmed the sales, calling them "legitimate business deals." This marks a dramatic reversal, as the US previously blockaded Venezuela's oil. The move signals Washington's direct control over the OPEC nation's resources and reshapes global energy flows following years of sanctions and underinvestment.
Why It Matters
This realigns global oil supply chains and demonstrates the US's new, direct control over a major producer's resources.