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Oil Prices Fall After Trump Announces Venezuelan Shipments

Published January 7, 2026, 12:13
Oil Prices Fall After Trump Announces Venezuelan Shipments

Oil prices fell on Wednesday after US President Donald Trump announced that Venezuela would deliver millions of barrels of oil to the United States. The announcement caused significant volatility in prices, as Trump stated that Washington would have “full access” to Venezuela’s resources. Brent crude and US crude oil fell by approximately 1% and 1.3% respectively. Analysts note that the deal may reduce the risk of production cuts in Venezuela, but expect lower prices due to increased supply and the OPEC+ agreement to increase production.