The arrest of Venezuelan President Nicolás Maduro leaves the world's largest proven oil reserves under the de facto influence of the United States. President Donald Trump announced that the US will take over the oil business, raising eyebrows and sparking domestic political battles and international alarm.
As Washington assumes a central role in the governance of Caracas, the global energy market is bracing for a radical transformation of the Venezuelan petroleum sector. A viral TikTok report has highlighted the sheer scale of the prize, noting Venezuela has '300 billion barrels worth of crude reserves'—more than Saudi Arabia—with a potential value of £12.58 trillion ($17 trillion).
