Trump says Venezuela is responding to US oil access demand

Donald Trump said Venezuela would hand over about $2bn in crude to the United States; Venezuelan government officials and state oil company PDVSA did not provide comment, the article reports.

Donald Trump said on Tuesday that Venezuela will turn over about $2bn worth of crude oil to the United States. He said the oil would be sold at market price and that the proceeds would be controlled by him as president. Venezuelan government officials and state oil company PDVSA did not provide comment. Venezuelan officials have called Nicolás Maduro's reported capture a kidnapping and accused the US of trying to seize the country's oil reserves. Key points: - Donald Trump said Venezuela would transfer about $2bn in crude to the United States and that the sale proceeds would be controlled by him as president. - Venezuelan government officials and state oil company PDVSA did not provide comment; top Venezuelan officials described Maduro's reported capture as a kidnapping, according to the article. - The White House said acquiring Greenland is a national security priority and stated that using the US military is "always an option," the statement said. Summary: The article reports that the announced transfer would divert Venezuelan crude toward US markets and says it could divert supplies from China while helping Venezuela avoid deeper production cuts. Undetermined at this time.