Trump’s plan to seize and revitalize Venezuela’s oil industry faces major hurdles

Vehicles drive past the El Palito refinery in Puerto Cabello, Venezuela, Sunday, Dec. 21, 2025. (AP Photo/Matias Delacroix)(AP/Matias Delacroix)

Vehicles drive past the El Palito refinery in Puerto Cabello, Venezuela, Sunday, Dec. 21, 2025. (AP Photo/Matias Delacroix)(AP/Matias Delacroix)

President Donald Trump’s plan to take control of Venezuela’s oil industry and ask American companies to revitalize it after capturing President Nicolás Maduro in a raid isn’t likely to have a significant immediate impact on oil prices.