Caracas, Venezuela — January 3, 2026 Explosions in Caracas early Saturday marked the end of Nicolás Maduro’s 13 years in power. U.S. forces quickly captured Maduro and his wife. President Donald J. Trump confirmed the operation, saying Maduro, who faces narco-terrorism charges, was taken to New York for trial. Venezuela’s future depends on its biggest asset: the world’s largest proven oil reserves, with over 300 billion barrels in the Orinoco Belt.
The country once produced more than 3 million barrels a day, but output has dropped below 1 million due to mismanagement, sanctions, and aging infrastructure. A new government could bring in billions in foreign investment, end sanctions, and update oil operations.
Experts think production could rise sharply, helping global supply and funding Venezuela’s recovery. President Trump has promised strong U.S. support and new partnerships in the oil sector.
