US invades Venezuela for oil

TRUMP SAYS WATCHED MADURO CAPTURE LIVE, WAS LIKE ‘TELEVISION SHOW’

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‘The United States hit Venezuela with a “large-scale strike” early Saturday and said its president, Nicolas Maduro, had been captured and flown out of the country, President Donald Trump announced later in the day as he insisted that the US would tap the South American nation’s vast oil reserves to sell “large amounts” to other countries.

Trump also suggested that the US government would run Venezuela at least temporarily, media reports said.

Earlier in the day, multiple explosions rang out, and low-flying aircraft swept through Caracas, the capital, as Maduros government immediately accused the United States of attacking civilian and military installations. The Venezuelan government called it an “imperialist attack” and urged citizens to take to the streets.

Venezuela has one of the highest oil reserves in the world, and this has led to concerns about how the attack could impact the price movement internationally.

‘The global crude prices are subdued at the moment as Venezuela’s oil exports have remained low due to US sanctions,

As per a report, Venezuela state-run energy company PDVSA% oil production and refining were normal on Saturday, and its most important facilities had suffered no damage from the US attacks.

In December, Trump announced a blockade of oil tankers entering or leaving the country, and the U.S. seized two cargoes of Venezuelan oil. The US measures prompted many vessel owners to divert away from Venezuelan waters, which has rapidly increased PDVSAS inventories of crude and fuel, news agency reported. PDVSA has been forced to slow down deliveries at ports and store oil on tankers to avoid crude output or refining cutbacks.

Under Venezuelan law, the vice president, Delcy Rodriguez, would take power. There was no confirmation that had happened, though she did issue a statement after the strike.