Name: Venezuelans express hope for revival of oil economy
Uploaded: 2026-01-10T09:04:51.784Z
Duration: 2 min 11 s
Description: Venezuela’s vast oil wealth was once a key source of national prosperity. However, years of international sanctions, ongoing economic mismanagement, and the political crisis surrounding President Nicolas Maduro have brought these resources under increasing U.S. control. Many Venezuelans now face uncertainty about what this means for their country’s future.

Venezuela’s vast oil wealth was once a key source of national prosperity. However, years of international sanctions, ongoing economic mismanagement, and the political crisis surrounding President Nicolas Maduro have brought these resources under increasing U.S. control. Many Venezuelans now face uncertainty about what this means for their country’s future.

Caracas

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Venezuela, home to over 300 billion barrels of oil reserves, is at the center of renewed international attention following the capture of former President Nicolás Maduro. With U.S. officials and energy firms expressing interest in revitalizing the country's oil sector, discussions have emerged about investment, sanctions relief, and the future control of Venezuela's resources.

Interim President Dulce Rodríguez has emphasized the importance of keeping oil under national control, while some Venezuelans see potential benefits if profits from oil sales are returned to the country. The outcome of new agreements between the U.S. and Venezuela's interim government remains uncertain, but there is widespread hope among Venezuelans for a fair share of profits from their natural resources.

Venezuelans express hope for revival of oil economy

Venezuela holds some of the largest oil reserves in the world, at more than 300 billion barrels, a resource that has long drawn international attention. The capture of former President Nicolás Maduro has put the country's oil back at the center of the global headlines. Donald Trump is promising to work with major American energy firms to reactivate Venezuela's oil industry. Meanwhile, Interim President Dulce Rodríguez maintained that Venezuela's resources should remain under national control. In 2007, former President Hugo Chávez nationalized the oil industry, kicking out major American and European companies. They claimed the country owes its companies billions in compensation, and it would cost billions of dollars to update Venezuela's aging infrastructure, to bring it back to historic levels of producing more than 3 million barrels a day. There is nothing that they care about more in this country other than oil. There's no way of changing that. Certainly, they are here because of the oil. Some analysts believe Venezuela's oil could be the key to wealth for outsiders, not necessarily for the people. They will not steal anything from us if they come with good intentions, and definitely everybody has their interests. But if they sell and it gets paid at international prices, and above all, we get profits for our country, what better thing can happen to us? As U.S. officials talk about investment, sanctions relief and industry recovery, it could be a pivotal turning point for the country. In my opinion, if they take oil, it means they will sell and we will see profits, the very same we haven't received in years. Venezuelan oil has been long fought for, coveted and debated. For now, it's too soon to see if these agreements between the U.S. administration and the new interim presidency of Venezuela will really benefit the people. But what's clear is that Venezuelans want to get paid for their resources. Nori Soto, Al Jazeera, Caracas.

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Venezuelans express hope for revival of oil economy

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Venezuela Strikes