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"Biggest oil deal in world history": JD Vance claims US control of Venezuelan reserves, energy dominance

"Biggest oil deal in world history": JD Vance claims US control of Venezuelan reserves, energy dominance

Washington [US], November 10 (ANI): United States Vice President JD Vance has declared that "American energy is back," crediting President Donald Trump's economic and regulatory policies for driving historic milestones in domestic crude production, record-breaking liquefied natural gas (LNG) exports, and landmark global energy pacts.
Taking to social media platform X on Monday, the Vice President said, "Thanks to President Donald J. Trump, AMERICAN ENERGY IS BACK! President Trump opened hundreds of millions of acres for oil, gas, and coal production, and reinvigorated America's beautiful clean coal industry.”
Detailing the surge in natural gas shipments, Vance noted, “The US set a world liquefied natural gas export record in 2025, making it the first country ever to ship more than 100 million metric tons in a single year. US LNG exports rose 23% in the first half of 2026 to 17.4 billion cubic feet per day.”
The Vice President further underscored the country's record-setting domestic crude output, asserting that the momentum is poised to continue throughout the year.
"The US achieved record domestic oil and gas production in 2025, and America is on track for another record year of crude oil production in 2026, averaging 13.8 million barrels per day," Vance said.
Highlighting the administration's international energy footprint, Vance also asserted that “President Trump secured the biggest oil deal in world history, delivering the US majority control of more than 65 billion barrels of proven oil reserves in Venezuela.”

Thanks to President Donald J. Trump, AMERICAN ENERGY IS BACK! –– President Trump opened hundreds of millions of acres for oil, gas, and coal production, and reinvigorated America's beautiful clean coal industry. –– The US set a world liquified natural gas export record in 2025 making it the first country ever to ship more than 100 million metric tons in a single year. –– US LNG exports rose 23% in the first half of 2026 to 17.4 billion cubic feet per day. –– The US achieved record domestic oil and gas production in 2025 and America is on track for another record year of crude oil production in 2026, averaging 13.8 million barrels per day. –– President Trump secured the biggest oil deal in world history, delivering the US majority control of more than 65 billion barrels of proven oil reserves in Venezuela.

— Vice President JD Vance (@VP) November 9, 2026


Meanwhile, United States imports of crude oil from Venezuela climbed to an average of 701,000 barrels per day in July 2026, marking the highest monthly volume recorded since May 2017.
The intake tapered slightly in the subsequent month, falling to 655,000 barrels per day in August, according to data from the US Energy Information Administration (EIA) in its Petroleum Supply Monthly.
Shipments from the South American producer began the year at 200,000 barrels per day and followed an upward trajectory across most months of the current calendar year.
"Increased imports from Venezuela are supported by high crude oil demand from US refineries because of high global refinery margins," the US EIA said.
The agency noted that the intake expanded further due to "the easing of US government restrictions on purchases from the country."
A significant factor behind this operational appetite remains industrial infrastructure along the southern American coastline.
"Many refineries on the US Gulf Coast (PADD 3) are configured to process heavy sour crude oil grades," the US EIA stated, pointing out that these facilities handle grades "such as those from Venezuela."
The surge coincided with a complete redirection of trade flows away from Asia. Figures from Vortexa showed that while the majority of Venezuelan crude oil exports headed to China during 2025, Venezuela sent zero crude oil shipments to China this year. The United States stepped in as the single largest destination by volume for Venezuelan crude oil exports.
The current trade levels reflect an evolving diplomatic and commercial framework. (ANI) 

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