Trump says Venezuela will purchase American products with revenue from oil deal
A guide to what's happened with Venezuela's crude-oil production and exports since President Donald Trump ordered a blockade of sanctioned oil tankers linked to Venezuela.
Venezuela's state-run oil company PDVSA said on Wednesday it is progressing in negotiations with the United States for oil sales, as a board member for the company told Reuters the U.S. will need to buy cargoes at international prices.
For more than two weeks, Sky News' Data and Forensics team has plotted the movements of the US-sanctioned oil tanker Marinera.
President Donald Trump reserves the right to use military force to protect U.S. oil workers in Venezuela, the White House said. Trump prefers diplomacy but he will do what is in the best interests of the U.S. energy industry, White House press secretary Karoline Leavitt said.
Oil companies will need assurances that outlast Trump's time in White House.
Mexican President Claudia Sheinbaum said on Wednesday that Mexico is not sending more oil to Cuba than it has historically, but amid recent events in Venezuela, Mexico has turned into an "important supplier" of crude to Cuba.
US forces seized two more sanctioned oil tankers, the M/V Bella 1 and the M/T Sophia, as part of its energy quarantine of Venezuela. Homeland Security Secretary Kristi says the ships were part of Russia's "ghost fleet.
Britain provided support to the United States in its operation to seize a Russian-flagged oil tanker in the North Atlantic, the Ministry of Defence said on Wednesday.
President Donald Trump is set to host executives from leading U.S. oil companies at the White House on Friday following the arrest of Venezuelan leader Nicolás Maduro.
Crude oil continues to test support on Wednesday, as the Venezuela situation continues to evolve. With 50 million barrels sent to the US, the reality is that it was less than 5 days' output.
This is a developing story and will be updated.