Trump targets Venezuelan oil in push to lower prices to $50 a barrel

WASHINGTON — President Donald Trump plans to leverage Venezuela’s massive oil reserves to seize control of the Western Hemisphere's energy supply and drive global prices down to approximately $50 per barrel.

Senior administration officials said the strategy aims to tap into Venezuelan fields to significantly lower energy costs for American consumers. The move comes as the global oil market faces a period of sustained volatility, with prices dropping nearly 20% in 2025 to mark a third consecutive year of decline.

Beyond lowering costs, the Trump administration intends to establish a regional production stronghold to block Russian and Chinese influence in Venezuela. The White House confirmed it plans to oversee Venezuelan oil sales “indefinitely” after claiming ownership of 50 million barrels of frozen crude, a stockpile valued at roughly $3 billion.

Writing on Truth Social, Trump stated that Venezuela would be required to spend all proceeds from the oil arrangement on American-made goods.

However, major U.S. energy firms including Chevron and ExxonMobil have expressed hesitation. Industry leaders are reportedly demanding "serious guarantees" before committing billions of dollars to upgrade Venezuela’s dilapidated energy infrastructure.

The Trump administration’s strategy regarding Venezuelan oil represents a calculated geo-economic maneuver, wielding energy leverage to achieve a dual mandate: stabilizing domestic fuel prices and reasserting American primacy in Latin America. In doing so, Washington is directly challenging the entrenched influence of Moscow and Beijing in the Western Hemisphere.

For Vietnam, a net energy importer, the ramifications of this policy are bifurcated. On the macroeconomic front, a potential retreat in global crude prices toward the $50-per-barrel mark would provide a significant tailwind, easing inflationary pressures and lowering input costs for its expanding manufacturing base. Conversely, such a price environment would weigh heavily on the revenue streams of state-owned PetroVietnam, a critical contributor to the national treasury.

From a strategic lens, Hanoi will be scrutinizing the U.S. posture. A decisive American effort to curtail Chinese influence in the Western Hemisphere serves as a meaningful signal to Southeast Asian nations grappling with similar regional asymmetries.

However, the primary obstacle to the administration’s ambitions may not lie with its geopolitical rivals, but with the American energy sector itself. U.S. oil majors remain wary of committing billions in capital expenditures to a volatile Venezuelan landscape, particularly under an administration defined by its diplomatic unpredictability. The ultimate efficacy of this strategy hinges on the government’s ability to bridge the gap between political rhetoric and private-sector risk appetite—a prospect that remains far from guaranteed.

If successful, this plan could significantly lower gas prices across the United States. Such a shift would provide a direct boost to Vietnamese-American small businesses—particularly within the nail salon industry and phở restaurants—while also reducing the daily commuting costs for families.