new video loaded: Why Trump is fixated on Venezuelan oil
Venezuela has about 17 percent of the world’s known oil reserves, but produces only about 1 percent of the crude oil consumed worldwide. Our energy reporter Rebecca F. Elliott explains.
By Rebecca F. Elliott, Melanie Bencosme, Nikolay Nikolov, Sutton Raphael, James Surdam, and Lazaro Gamio
January 7, 2026