Gotrade News - President Donald Trump claimed the U.S. has received over 80 million barrels of oil from Venezuela during his State of the Union address on Tuesday (25/02). The problem is, shipping data suggests the actual number is way off from that figure.
Trump also said U.S. oil production is up by more than 600,000 barrels a day, doubling down on his "drill, baby, drill" pledge. He added that American natural gas output has hit an all-time high under his watch.
Key Takeaways
- Ship-tracking data shows Venezuela has only exported around 30 million barrels since January, not 80 million as Trump claimed
- The Pentagon confirmed the seizure of a third Venezuelan oil tanker in the Indian Ocean on Tuesday (25/02)
- Venezuela's interim government is opening up its oil sector to U.S. energy giants like Chevron, Exxon Mobil, and ConocoPhillips
The Numbers Don't Match
Trump's 80-million-barrel figure significantly overshoots what actually left Venezuela. According to industry trackers cited by Reuters, total Venezuelan oil exports since the mid-January deal sit at roughly 30 million barrels.
That 30 million also includes shipments headed to other countries, not just the U.S. So the actual volume of Venezuelan crude landing on American soil is likely even smaller than that.
Trump's oil boast came alongside an increasingly aggressive military posture. The Pentagon announced on Tuesday (25/02) that U.S. forces had boarded and captured a third oil tanker tied to Venezuela in the Indian Ocean.
The vessel, known as Bertha, was carrying around 1.9 million barrels of Merey 16 crude. Samir Madani, cofounder of tanker monitoring site TankerTrackers.com, told the Associated Press that Bertha was one of 16 tankers that fled Venezuelan waters after President Nicolás Maduro was captured on January 3.
Big Oil Eyes Venezuela's Reserves
The upheaval in Venezuela has swung open the doors for U.S. energy companies eyeing the country's massive oil reserves. The Trump administration has pledged to give firms like Chevron, Exxon Mobil, and ConocoPhillips access to Venezuelan crude.
Trump already hosted several oil executives at the White House on January 9 to discuss Venezuela's oil prospects. According to Al Jazeera, Venezuela's interim government has also introduced a bill to loosen state control over its struggling oil industry.
Trump previously floated plans to visit Venezuela, though he gave no specifics. His public praise for interim leader Delcy Rodriguez signals a tightening energy partnership between the two countries.
The U.S. oil push goes well beyond Venezuela, though. The administration is also ramping up domestic extraction, including in Alaska's Arctic National Wildlife Refuge.
For global energy markets, the combination of surging U.S. production and fresh access to Venezuelan reserves could shake up the supply picture. But the stark gap between Trump's headline number and what the data actually shows is something worth keeping an eye on.
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Reference:
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Seeking Alpha, Trump says U.S. received 80M barrels of oil from Venezuela. Accessed on February 25, 2026
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Al Jazeera, Trump says US has received 80m barrels of Venezuelan oil; 3rd tanker seized. Accessed on February 25, 2026
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