Venezuela's oil history shapes Trump's recent push.

The article traces a century of U.S. engagement with Venezuela's oil from a 1922 gusher to recent moves by the Trump administration to assert control over Venezuelan oil after Nicolás Maduro's ouster, and cites OPEC figures putting current production at about 900,000 barrels a day.

Venezuela's oil history stretches back more than a century, beginning with a 1922 gusher that attracted sustained U.S. interest. The article reports the Trump administration has recently taken steps to assert control over Venezuelan oil assets after Nicolás Maduro's ouster. Officials are described as promising to revitalize the industry through U.S. expertise and to sell Venezuelan crude. OPEC figures cited in the piece place Venezuelan production at just over 900,000 barrels a day. Key facts: - A 1922 oil blowout in Venezuela is reported as a turning point that drew long-term American investment and influence in the country’s oil sector. - The article reports the Trump administration has moved to assert control of Venezuelan oil assets following Maduro’s ouster and has promoted U.S. industry involvement and crude sales. - OPEC figures cited in the story indicate Venezuela’s current production is a little over 900,000 barrels per day. - The article notes structural and political hurdles, including past nationalizations, degraded infrastructure and long-standing reluctance in parts of Venezuela to welcome outside control, that could complicate efforts to restore output. Summary: The piece outlines how successive phases of foreign investment, nationalization and partial liberalization shaped Venezuela’s oil industry and its ties with the United States. What happens next is undetermined at this time.