Donald Trump plans to use Venezuela’s vast crude reserves to establish control of most of the western hemisphere’s oil in an attempt to drive the market price down to about $50 (£37) a barrel, according to reports.The US president has repeatedly raised the prospect of producing enough crude from Venezuela’s oilfields to drive down the US oil price from more than $56 a barrel today to about $50 in an effort to cut energy costs for consumers, according to the Wall Street Journal, which cited senior Trump admi ...

By Vallari Srivastava , Nathan Crooks and Jarrett Renshaw Jan 7 (Reuters) - The United States needs to control Venezuela's oil sales and revenue indefinitely to drive the changes it wants to see in the country, Energy Secretary Chris Wright said on Wednesday. The comments ​reflect the importance of the South American country's crude oil reserves to President Donald Trump's strategy since U.S. forces ousted ‌Venezuelan leader Nicolas Maduro in a raid on the capital Caracas on Saturday. "We need to have ...