Trump says Venezuela to give up to 50 million barrels of oil to U.S.

I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America. 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! I have asked Energy Secretary Chris Wright to execute this plan, immediately. It will be taken by storage ships, and brought directly to unloading docks in the United States. Thank you for your attention to this matter! DONALD J. TRUMPPRESIDENT OF THE UNITED STATES OF AMERICA

| Getty Images Oil sales from Venezuela will continue indefinitely and U.S. sanctions will be reduced, sources close to the White House told CNBC’s Brian Sullivan on Wednesday. President Donald Trump said Tuesday that Venezuela will turn over 30 million to 50 million barrels of sanctioned oil, which will be sold at market prices. But those 50 million ...

The upheaval in Venezuela has huge implications for global markets, most notably in the energy space given the fact that they have the highest proven oil reserves of any nation. However, the volatility seen over recent days highlights the two sides of the story for traders to understand.