Market
U.S. changes oil import sources by end of 2025?
2
Resolution / Starting Odds
Increase imports from Canada • 25%
Increase imports from Middle East • 25%
Increase imports from Africa • 25%
Other • 25%
U.S. Energy Information Administration reports or trade data
Story
Trump Announces U.S. Will Likely Stop Buying 222,000 Barrels of Oil Daily From Venezuela, Its Second-Largest Market
Jan 21, 2025, 01:13 AM
President Donald Trump has announced that the United States will likely cease purchasing oil from Venezuela. This statement was made shortly after his inauguration, indicating a potential shift in U.S. policy towards Venezuela. Trump emphasized that the U.S. does not need Venezuelan oil, suggesting that this move could have a substantial impact on Venezuela. The decision comes in the context of ongoing scrutiny of Venezuela, with Trump describing the country as a 'disaster' compared to its state 20 years ago. In 2024, Venezuela exported approximately 222,000 barrels of oil per day to the U.S., making it the second-largest market for Venezuelan oil exports after China.
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