US is world’s top oil producer. Why does it want Venezuela’s crude?

The United States holds the distinction of being the world's largest oil producer, yet it is keen on gaining control over Venezuela's oil resources. The US President, Donald Trump, announced a significant deal with Venezuela that would see the US gain control over around 65 billion barrels of Venezuelan oil reserves, which make up approximately 20% of the country's proven oil reserves.

This deal, touted as the "biggest oil deal in world history," aims to revitalize Venezuela's oil industry through investment from American private companies and infrastructure. The US is particularly interested in Venezuela's heavy oil, which is known for its high viscosity, high sulfur content, and is not as easily refined as the lighter, sweeter crudes produced in the US.

This difference in oil quality makes the US reliant on importing heavy oil to feed its refining infrastructure, particularly the Gulf Coast refineries designed to process such crude.