Fox News correspondent Steve Harrigan reports live from Caracas, discussing Venezuela's economic reopening and renewed commercial ties with the U.S. This includes a surge in oil exports, reaching a seven-year high of 1.23 million barrels per day. The move follows the U.S. capture of Nicolas Maduro, with American Airlines resuming direct flights to Miami. Experts weigh in on the political and economic implications for both countries.
PresidentDonald Trumpis eyeing oil-rich Venezuela as a potential 51st state as officials continue to court oil companies for investments in the South American country following the U.S. intervention that removed President Nicolas Maduro from power.
Trump said in a phone call with Fox News that he is motivated by the estimated $40 trillion value of oil in Venezuela. adding that he is popular with the country's citizens.
"Venezuela loves Trump," Trump said.
After U.S. military officials captured Maduro in January, whom the Justice Department indicted on narco-terrorism charges, Trump said the United Stateswould "run" the countryduring its transitional period. work with Venezuelan Vice President Delcy Rodriguez.
US CAPTURE OF MADURO THROWS SPOTLIGHT ON VENEZUELA’S MASSIVE OIL RESERVES
President Donald Trump signs an executive order in the Oval Office of the White House in Washington. D.C., on March 31, 2025, announcing Venezuela will turn over millions of barrels of oil to the U.S.(Al Drago/Bloomberg)
In January, Trump pledged to have the U.S. oil industry "up and and running" again in Venezuela. Major energy companies like Exxon. Conoco were expelled from the country nearly 20 years ago when former President Hugo Chavez nationalized the oil industry, leaving Chevron as the only U.S. major oil company with investments in Venezuela.
For months,Cabinetofficials. White House energy advisors have held meetings with top oil executives from major companies, urging them to invest in Venezuela.
With the Trump administration now managing Venezuela’s oil sector. exports in April reached more than 1 million barrels per day, the highest level since 2018.
"As the President has said, relations between Venezuela and the United States have been extraordinary. Oil is starting to flow,. large amounts of money, unseen for many years, will soon be helping the great people of Venezuela," a White House spokesperson told Fox News Digital. "Only President Trump can be credited for the revitalization of this newfound partnership –. the best is yet to come!"
The spokesperson did not provide details about what Trump's plan to make Venezuela a part of the United States would look like.
Trump'sinterest in Venezuela’s oilhas been known since Maduro's ousting. He has argued that securing Venezuela’s oil supplies would help stabilize the country’s economy. a step he deems crucial to establishing a stable democracy.
TRUMP’S VENEZUELA STRIKE SPARKS CONSTITUTIONAL CLASH AS MADURO IS HAULED INTO US
Venezuela's acting President Delcy Rodriguez waves after bidding farewell to U.S. Energy Secretary Chris Wright following their meeting at Miraflores Palace in Caracas on Feb. 11, 2026.(Ariana Cubillos/AP)
But in March, Trump posted on Truth Social suggesting thatVenezuela would instead become a state.
"Good things are happening to Venezuela lately! I wonder what this magic is all about? STATEHOOD, #51, ANYONE?" Trump posted.
For Trump to annex Venezuela. make it a state, it would require congressional approval and consent from Venezuela, which Rodriguez said would never happen.
Chevron representative Mariano Vela signs an agreement to expand oil operations in Venezuela as acting President Delcy Rodriguez observes at Miraflores presidential palace in Caracas on April 13. 2026.(Ariana Cubillos/AP)
"That would never have been considered, because if there is one thing we Venezuelan men. women have, it is that we love our independence process, we love our heroes and heroines of independence," Rodriguez told reporters on Monday when asked about Trump's eyes on Venezuela.
Venezuela is just the latest country Trump has threatened to annex, with thelist including Greenland, Canada, Cuba and Panama.
Fox News Digital reached out to the White House and theState Departmentfor further comment.
John Roberts currently serves as the co-anchor ofAmerica Reports(weekdays, 1-3 PM/ET) on FOX News Channel (FNC). He joined the network from CNN as a senior national correspondent in January 2011, based in the Atlanta bureau.
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