President Trump announced on January 31 that he’s open to Chinese investment in Venezuela’s oil sector, while confirming that India would begin purchasing Venezuelan crude instead of Iranian oil.
The US captured former Venezuelan President Nicolás Maduro on January 3, 2026, leaving interim leadership under Delcy Rodríguez. Since then, Washington has relaxed some sanctions and begun actively steering Venezuelan oil exports toward American and Indian buyers.
The oil numbers tell a bigger story
Venezuela’s oil exports hit 1.23 million barrels per day in April 2026. Of that, 445,000 bpd flowed to the US and 374,000 bpd went to India.
Chevron has already ramped up imports significantly. Analysts project that sustained US investment could boost Venezuelan production by an additional 1 to 2 million barrels per day.
