Trump’s Venezuela Oil Takeover Push: PDVSA Cuts Output, Chevron and U.S. Refiners in Focus
NEW YORK, Jan 5, 2026, 02:44 ET — Market closed Venezuela’s state-run oil company PDVSA has started trimming crude output as a U.S. oil embargo — a government-ordered ban on trade — has choked off exports and squeezed storage capacity, sources familiar with the situation said. Reuters The cuts land as President Donald Trump moves to place the oil-rich nation under temporary American control after the U.S. captured President Nicolás Maduro over the weekend, putting Venezuela’s oil policy — and who ultimately controls the barrels — at the center of the market’s next move. Reuters Why this matters now: Venezuela’s