Last Friday, President Trump announced that the United States had reached an agreement to control 65 billion barrels of Venezuelan oil, according to a weekly tanker report from Gibson Shipbrokers Ltd.

The announcement was covered in Gibson's Weekly Shipbrokers Reports, dated 05/09/2026, and republished by Hellenic Shipping News. The full report is available on Gibson's official website.

Venezuela holds some of the largest proven oil reserves in the world, and developments concerning the country's crude exports have historically been a factor in tanker market dynamics, as shifts in Venezuelan oil flows affect demand for vessels carrying crude to and from the Americas. The reported 65-billion-barrel figure is comparable in scale to Venezuela's total proven reserves, which are among the largest of any country.

Venezuelan crude is largely heavy and sour, typically requiring dilution or specialized refining capacity, which has historically shaped which buyers and trade routes its exports can serve. Sanctions and license regimes imposed on Venezuelan oil in recent years have repeatedly altered the volume and destination of its shipments, with corresponding effects on tanker employment in the Atlantic basin. Any change in who controls or markets these barrels would therefore be closely watched by tanker owners and charterers for its potential effect on voyage patterns and ton-mile demand.

Source: GIBSON SHIPBROKERS LTD

Original article: Hellenic Shipping News