On Thursday, President Donald Trump stated that the United States had "repaid the attack many times over" due to the profits generated from Venezuelan oil, characterizing the bilateral relationship as a highly lucrative joint venture for both nations.
"They're producing more oil now than they have in many, many decades. And they're making more money, as are we. It's like a joint venture, to be honest," Trump remarked regarding Venezuela.
The president also used one of his favored expressions to justify the economic benefits gained: "I always used to say: to the victor go the spoils. We've paid for the attack many times. The attack, something you probably never heard of before. It was an attack that took less than a day. Actually, it was a 45-minute attack."
These comments refer to Operation Absolute Resolution, carried out in the early hours of January 3, 2026, where Delta Force special units captured Nicolás Maduro and his wife Cilia Flores at the presidential complex in Caracas.
Trump revealed previously undisclosed details of this operation in the days following, emphasizing that it concluded with no American casualties.
Impact on Venezuela's Oil Industry
Trump noted that Venezuela "has a good army," but it "wasn't expecting" the operation. He added that while attacks are "always costly," the oil revenues have more than compensated for it.
Following Maduro's capture, Delcy Rodríguez took over as interim president under direct influence from the White House.
Trump announced that Rodríguez would govern Venezuela in close cooperation with Washington.
The impact on Venezuela's oil industry was immediate. Prior to the operation, Venezuela was sending a mere 35,000 barrels per day to the United States; under American oversight, Chevron now operates at between 200,000 and 240,000 barrels daily.
Strategic Partnerships and Economic Gains
In February 2026, Trump referred to Venezuela as a "partner and friend" and confirmed the receipt of over 80 million additional barrels.
Revenues from royalties, taxes, and dividends from oil operations are deposited in accounts controlled by the U.S. Treasury.
Energy Secretary Chris Wright reported sales exceeding 1 billion dollars since Maduro's capture, with projections of 5 billion in the coming months.
Meanwhile, Venezuela severed ties with Cuba, China, Russia, and Iran following the operation. The halt of Venezuelan oil supply of between 25,000 and 35,000 barrels daily to Cuba since January 2026 exacerbated the energy crisis on the island, already devastated by 67 years of communist dictatorship.
In April 2026, a 1.4 billion dollar investment in the Venezuelan oil sector was announced as part of a broader plan Trump described as "trillions of dollars" to revitalize the industry within 18 months.
According to OPEC, Venezuela holds 17% of the world's oil reserves, but under the Chávez regime, it contributed only 1% of global production.
FAQs on U.S.-Venezuela Oil Relations
What was the outcome of Operation Absolute Resolution?
Operation Absolute Resolution resulted in the capture of Nicolás Maduro and his wife, allowing the U.S. to take control of Venezuela's oil industry with no American casualties.
How has Venezuela's oil production changed since the operation?
Venezuela's oil production has increased significantly, with Chevron now operating at 200,000 to 240,000 barrels per day under U.S. supervision.
What are the economic benefits for the U.S. from Venezuelan oil?
The U.S. has reported over 1 billion dollars in sales since the operation, with projections of reaching 5 billion in the coming months due to increased oil production and exports.