Venezuela’s Complicated U.S. Oil Deal
An accord anchored on billions of dollars lacks the depth needed to transform a neglected national oil industry, an expert writes.
BOGOTÁ—With all the expectations the Trump administration has created about the stabilization, recovery, and eventual democratic transition in Venezuela, everybody knew that oil was supposed to be a key component of the playbook and endgame. In an era when Washington is unabashedly pushing for energy dominance, turning to an old partner makes some sense, if imperfect. Yet the latest oil deal announced by the Trump administration and the regime led by acting President Delcy Rodríguez is testing the patience and hopes of the Venezuelan people, who, since the capture of Nicolás Maduro,...
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