By Micah Jonah
January 23, 2026
The United States has permitted China to purchase Venezuelan oil, however warned that the crude must not be sold at the “unfair, undercut” prices which prevailed under Nicolás Maduro.
A senior US official said majority of Venezuela’s oil will be sold to the United States, while global sales, including to China, must follow fair market rates. The decision comes after US authorities seized control of Venezuela’s oil industry following Maduro’s capture on January 3.
“Thanks to President Trump’s decisive law enforcement operation, the people of Venezuela will now get a fair price for their oil from China, other nations, instead of the cheap, corrupt rates under Maduro,” the official said.
US Energy Secretary, Chris Wright reported that Washington is now receiving around $45 per barrel for Venezuelan crude, compared with $31 under Maduro. Initial supply deals with traders Trafigura and Vitol have already delivered roughly 11 million barrels, including sales to US refiners, Valero and Phillips 66, and to Spain’s Repsol.
Analysts predict China’s oil imports from Venezuela could decline in February as US control limits tanker shipments, signalling a major shift in Caracas’s oil trade dynamics.
