Maduro seeks help from Trump, OPEC in oil ‘seizure’

US President Donald Trump and Venezuelan President Nicolas Maduro.

Venezuelan President Nicolas Maduro has sought help from OPEC, the world’s oil-producing bloc, accusing US President Donald Trump of trying to ‘seize’ Venezuela’s oil resources. He sent a letter to the alliance’s members on Sunday (November 30), Al Jazeera reported.

State broadcaster Telesur published the letter. Maduro wrote in the letter, “I expect your utmost efforts to stop this aggression. It is rapidly increasing and is endangering the balance of the international energy market for both producers and consumers.” Maduro also said he had formally complained to OPEC and the wider OPEC+ alliance about the “use of deadly military force” against Venezuela’s territory, people and institutions.

Despite having the world's largest proven oil reserves (303 billion barrels in 2023), Venezuela was able to export only $4.05 billion in crude oil in 2023 due to US sanctions. This is much less than other oil-rich countries.

Venezuela, along with Iran, Iraq, Kuwait and Saudi Arabia, is a founding member of the OPEC alliance, established in 1960. These countries later worked together to control oil supplies and influence global prices.

Earlier, Trump threatened to take military action against the Maduro government, accusing it of involvement in drug terrorism. First, he deployed several warships, including the USS Gerald Ford, one of the US aircraft carriers, to the Caribbean region, and thousands of troops. Then Trump announced the closure of airspace over Venezuela and the surrounding area. Analysts are describing Trump's move as a signal of a direct attack on Venezuela or a tactic to put pressure on Maduro.

Caracas has called the airspace closure a "colonial threat."

Al Jazeera reported.