US Will ‘Probably’ Stop Buying Oil From Venezuela, Trump Says

The US is “probably” going to stop purchasing oil from Venezuela, President Donald Trump said Monday. “We don’t have to buy their oil, we have plenty of oil,” Trump said during remarks to reporters at the Oval Office hours after he was sworn in for a second term.

Trump’s remarks come as he is expected to take a harder line against the regime of President Nicolás Maduro then his predecessor, former president Joe Biden. Analysts have estimated Venezuela’s output may increase to 1 million barrels a day in 2025, before stagnating the following year.