Trump claims Venezuela to give U.S. 30M oil barrels worth about $4B, FT says

In a meeting with U.S. oil CEOs, U.S. President Donald Trump said that the government of Venezuela has agreed to give the U.S. 30M barrels of oil worth roughly $4B, the Financial Times’ Jamie Smyth reports. The president claims this money will not be going to the oil industry, and he seemed to walk back an earlier suggestion that U.S. tax revenue could be used to reimburse companies for investing in Venezuela, saying “they don’t need government money,” the author notes. The president added that he will make a decision on which oil companies will operate Venezuela as soon as today or “very shortly thereafter,” the author says. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL) and TotalEnergies (TTE).