Venezuelan oil production is at risk of severe decline within weeks as storage tanks approach full capacity and many ships steer clear of Caribbean waters to avoid a US naval blockade, according to maritime intelligence firm Kpler Ltd.

President Trump has set his sights on Venezuelan oil after U.S. forces captured the country's former leader, Nicolás Maduro. Venezuela is one of the most oil-rich countries in the world, but it mostly sells to China.

The Trump administration plans to meet U.S. oil executives ‌this week, a source told Reuters on Monday, but it is unclear when or who will participate. Energy Secretary Chris Wr

A flotilla of US oil tankers is poised to begin loading stranded Venezuelan oil, as analysts warned the country’s production will “collapse” unless Washington halts its naval blockade. Chevron, the most prominent US company operating in Venezuela,

Two U.S. intelligence officials said Venezuelan officials had discussed placing Soviet-era defense systems and armed military personnel on tankers — disguising them as civilians for defense purposes.

For the oil market, the hype is real — the U.S. now has the opportunity to to more freely access crude from Venezuela, a country that’s widely accepted to be home to the world’s largest oil reserves.

Venezuela's state-run oil company PDVSA has begun cutting crude production because it is running out of storage capacity due to an ongoing U.S. oil blockade that has reduced exports to zero, piling more pressure on an interim government trying to hang on to power in the face of U.

President Trump said Monday the U.S. may subsidize oil companies' efforts to rebuild Venezuela's energy infrastructure in a project he estimated could take less than 18 months. Why it matters: Trump's comments in an interview with NBC signal a longer-term U.