Pres. Trump: Yesterday 30 million barrels of oil was given to U.S. by Venezuela

Watch on YouTube ↗  |  January 09, 2026 at 21:54  |  2:01  |  CNBC
Speakers
Brian Sullivan — Anchor, CNBC (Last Call / Power Lunch)
Donald Trump — President of the United States

Summary

Brian Sullivan reports from the White House after a meeting between President Trump, cabinet members, and oil executives focused on Venezuela. Sullivan says oil prices likely rose due to Iran rather than the Venezuela meeting. Oil CEOs indicated they might re-enter Venezuela if they get security guarantees and favorable commercial terms, potentially adding 300,000-700,000 barrels per day next year. He also notes ConocoPhillips' $12 billion legal judgment against Venezuela and the many uncertainties around any return.

  • White House meeting between Trump, cabinet, and oil CEOs focused on Venezuela.
  • Brian Sullivan attributes recent oil price rise more to Iran than Venezuela.
  • Oil executives may return to Venezuela if security and contract terms improve.
  • Potential Venezuelan output increase of 300k-700k barrels per day next year if Western capital returns.
  • ConocoPhillips holds a ~$12 billion judgment against Venezuela, already written off.
  • Trump tells oil CEOs they will do very well and make money.
  • Sullivan cautions there are many ifs for any Venezuela re-entry.
Ideas
Brian Sullivan Anchor, CNBC (Last Call / Power Lunch) 0:23
Oil majors may re-enter Venezuela conditionally.
Oil CEOs, including ConocoPhillips and Exxon, indicated they might be willing to go into or back into Venezuela if they receive security guarantees, commercial contract changes, and other provisions that allow them to make money; this could help rebuild oil infrastructure and increase output.
COP XOM MED
Brian Sullivan Anchor, CNBC (Last Call / Power Lunch) 0:52
Venezuela oil output may rise conditionally.
If Western capital, know-how, and commitment return to Venezuela, the country's oil output could rise by 300,000 to 700,000 barrels per day in the next year, a supply-side development for oil markets, though the speaker stresses it remains a big if.
WTI MED
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This CNBC video, published January 09, 2026, features Brian Sullivan discussing COP, XOM, WTI. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Brian Sullivan  · Tickers: COP, XOM, WTI