On the 8th, Trump said, “We’re going to take control of the oil industry. Major U.S. oil companies will rebuild the entire oil infrastructure.”
He also said the U.S. government would decide which oil companies are allowed to invest in Venezuela, and that the U.S. would immediately begin refining and selling up to 50 million barrels of Venezuelan oil.
Would this cause a flood of cheap oil to hit the market and seriously impact the energy sector?
I also noticed recently that U.S. oil executives have said Venezuelan oil isn’t investable.