Trafigura to Begin Venezuelan Oil Exports to the US Next Week

• Trafigura CEO Richard Holtum confirmed the timeline directly to President Trump during a White House meeting on Friday
• Both Trafigura and Vitol are negotiating with the U.S. government for broader deals to sell Venezuelan crude oil around the world
• This represents the resumption of Venezuelan oil exports to the U.S. market through major commodities trading houses

Summary: Trafigura to Begin Venezuelan Oil Exports to the US Next Week

Key Development:

Trafigura, a major commodities trading house, will load its first vessel of Venezuelan crude oil bound for the United States next week. This announcement was made by CEO Richard Holtum during a meeting with President Donald Trump at the White House on Friday, January 9.

Companies Involved:

• Trafigura: Leading the initial shipment to the US
• Vitol: Also in discussions with the U.S. government for Venezuelan crude deals

Market Context:

Both Trafigura and Vitol are negotiating agreements with the U.S. government to sell Venezuelan crude oil globally, marking a significant shift in trade relations. This development suggests a potential easing of restrictions on Venezuelan oil exports to American markets.

Market Implications:

• The resumption of Venezuelan oil flows to the US could impact global crude supply dynamics and pricing
• Increased Venezuelan crude availability may provide additional supply options for U.S. refiners
• This development signals a potential thaw in U.S.-Venezuela energy relations under the Trump administration
• The move could affect competing crude suppliers to the U.S. market, particularly other Latin American and Middle Eastern producers

Timeline:

Vessel loading expected to begin next week (week of January 13, 2026)

This development represents a notable policy shift and could have broader implications for global oil markets, particularly for refiners configured to process Venezuelan heavy crude. The involvement of major trading houses like Trafigura and Vitol indicates significant commercial interest in resuming Venezuelan oil trade flows.