In an interview with CNBC's Joe Kernen, former President Donald Trump shared on Friday that the relationship between the United States and Venezuela is thriving like never before. His comments quickly gained international attention.
"Our relationship with Venezuela is outstanding. They're doing better than ever with oil," Trump remarked, highlighting that major global corporations are entering the Venezuelan market and that the U.S. is securing its share of the oil, "as it should be."
These statements come amid significant changes in bilateral relations, beginning with the arrest of Nicolás Maduro on January 3, 2026. This event left Delcy Rodríguez as the interim president and paved the way for an unprecedented diplomatic shift between Washington and Caracas.
Since this development, oil has become the cornerstone of the agreement between the two governments. Venezuelan exports reached 1.25 million barrels per day by early June, marking the highest level in seven years, as confirmed by the U.S. chargé d'affaires in Venezuela, John Barrett.
The Organization of the Petroleum Exporting Countries (OPEC) also reported a 27.6% increase in production from January to May 2026.
In May, Secretary of State Marco Rubio disclosed that over 10 million barrels of Venezuelan oil had been shipped to the U.S. since January 3, with revenues deposited in accounts monitored by the Treasury Department and audited by KPMG.
One aspect Trump did not cover in the interview was the devastating impact of two massive earthquakes, measuring 7.2 and 7.5, that struck Venezuela on June 24. These were the most powerful quakes recorded in the country since 1900, with an official toll of 2,295 deaths and more than 11,000 injuries.
Barrett assured that the earthquakes did not disrupt the oil sector and that production would continue, although the disaster has sparked political tensions that complicate the "excellent" scenario Trump described.
One point of contention involves opposition leader María Corina Machado, who attempted to return to Venezuela amid the humanitarian crisis. White House officials labeled her effort as "grotesque political opportunism," as reported by Axios on Wednesday.
"She wants a photo-op distributing our aid," stated a senior official quoted by the outlet, adding that her return was driven by personal interests.
Venezuelan opposition groups in the U.S., mainly based in Doral, Florida, are urging Trump to reconsider his support for Rodríguez's government, claiming it hinders rescue efforts and humanitarian aid distribution.
Meanwhile, Trump and Rubio called Delcy Rodríguez on June 26 to affirm Washington's support after the earthquakes, signaling that the White House continues to back the interim government despite opposition criticism.
Furthermore, this Friday marks the constitutional 180-day deadline to declare the absolute absence of the Venezuelan president and call for new elections, a topic Trump did not address while discussing the "outstanding" relationship with Caracas.
Key Questions on U.S.-Venezuela Relations
What changes have occurred in U.S.-Venezuela relations?
Since the arrest of Nicolás Maduro in January 2026, U.S.-Venezuela relations have undergone a significant diplomatic shift, with Delcy Rodríguez serving as interim president and oil becoming a central focus of their agreement.
How has Venezuela's oil production impacted its relationship with the U.S.?
The increase in Venezuelan oil exports, reaching 1.25 million barrels per day, has strengthened ties with the U.S., leading to significant oil shipments and financial arrangements monitored by the Treasury Department.
How have recent earthquakes affected Venezuela?
Two major earthquakes on June 24 caused significant loss of life and injuries, but according to U.S. officials, they did not impact Venezuela's oil production.