Trump Considers Venezuela Statehood as Oil Deals Drive Exports to 7-Year High

President Trump is 'seriously considering' annexing Venezuela and its $40 trillion in oil reserves into the USA amid a surge in multibillion-dollar partnerships. Following Maduro's January capture, oil law reforms enabled U.S. firms Hunt Overseas and Crossover to sign Orinoco Belt deals on May 1, while Shell, BP, Repsol, Eni finalized pacts for Dragon (4.5 tcf gas), Cocuina-Manakin (~1 tcf), and Junin-5 (35B barrels) by May 7. Exports hit 1.23 million bpd in April—the highest since 2018 and up 14% from March—signaling a rapid industry rebound with potential global supply impacts.