US officials say controlling Venezuela oil key to driving economic change

WASHINGTON – 8 January 2026: US officials say Washington will need to control Venezuelan oil sales and revenue indefinitely to help stabilize the country’s economy, rebuild its oil industry and ensure it aligns with American interests, Reuters reported.

Energy Secretary Chris Wright told an energy conference that having leverage over the sale and proceeds of Venezuela’s crude is essential to driving the changes the US believes are needed.

US Vice President JD Vance said controlling the oil equates to control over the country’s direction.

"We control the energy resources, and we tell the regime: 'You're allowed to sell the oil so long as you serve America's national interest; you're not allowed to sell it if you can't serve America's national interest," Vance told Fox News.