Trump claims relations with Venezuela are 'excellent' and oil trade reaches historic levels

US President Donald Trump stated in an interview with CNBC that diplomatic and economic relations between the United States and Venezuela are at the best point in history, describing the situation as 'excellent'. Highlighting developments particularly in the oil sector, Trump expressed that the increase in Venezuela's oil production and export marks the beginning of a Golden Age for the South American country, attributing this success to Washington's effective foreign policy and commercial strategies. Emphasizing that major American companies have entered the Venezuelan market and that the US is securing its required oil share 'as is' without weak negotiation, the US leader drew attention to how strong the commercial ties between the two nations are.

The most critical factor shown for this significant improvement in relations is the political change in Venezuela and structural reforms in the energy sector. It is noted that with President Nicolás Maduro in prison following his arrest last January, the government of Delcy Rodriguez, which came to power, has adapted to US pressure, amended hydrocarbon laws, and opened doors to foreign investment. According to John Barrett, the US official at the helm of the Caracas desk, Venezuela's daily oil exports have risen to 1,25 million barrels in recent months, reaching the highest peak in the last seven years. This increase is interpreted as a direct result of the plans implemented by the Trump administration following Maduro's overthrow and points to an unexpected revival in the Venezuelan economy.

Official reports published by the Organization of the Petroleum Exporting Countries (OPEC) in May show that this recovery is not limited to political statements but is also supported by numerical data. According to the information in the report, Venezuela's crude oil production saw a sharp increase of 27,6% between January and May. These figures prove that the country's oil sector has begun to regain investor confidence after years of crisis and chaos and is moving towards a competitive position in the international arena. This increase in production is creating a favorable wind for economic indicators in both the US and Venezuela.

However, there are serious concerns and uncertainties regarding whether this positive picture in Venezuela will be fully sustainable. It is not yet fully clear how much damage the two major earthquakes that occurred in the country last week, causing serious damage to underground layers, have inflicted on oil facilities and critical infrastructure projects. Experts emphasize that seismic activity has the potential to disrupt the recovery in the energy sector and that large-scale investments could be at risk. The extent of the physical damage caused by the earthquakes and its reflection on production figures in the coming months are awaited with interest by market observers.

Finally, despite the humanitarian crisis caused by the earthquakes, the US attitude towards Venezuela gained a more strategic dimension. The Washington administration not only focused on oil trade but also strengthened diplomatic contacts by sending humanitarian aid to help the Delcy Rodriguez government cope with the earthquake disaster. According to official data, at least 2.295 people lost their lives, more than 11.267 were injured, and widespread destruction occurred in the country as a result of the earthquakes. The fact that the US did not sever its ties with Venezuela despite this disaster, but rather strengthened its bonds through commercial and humanitarian means, reveals the potential for future cooperation between the two countries.