US Energy Secretary Chris Wright has said the removal of Nicolás Maduro during a brief American military operation in January has paved the way for a major expansion of Venezuela's oil industry, with national energy production expected to more than double by the end of 2027. The claim underscores the Trump administration's growing strategy of using military and diplomatic leverage to reshape Venezuela's government and secure greater US access to its vast crude reserves, positioning Washington to benefit from increased Western Hemisphere energy output at a time when Middle East tensions are threatening global oil supplies.

Wright told Fox News Digital that the operation, which captured Maduro and his wife in under 30 minutes, has given Washington significant leverage over Venezuela's government. He highlighted a Chevron deal worth over $7 billion over five years that would more than double the firm's output there to 600,000 barrels a day, noting Venezuela holds around 300 billion barrels of reserves, roughly a fifth of the world's total, despite currently producing only about 1% of global supply. Wright linked the push to broader efforts to shift energy production towards the Western Hemisphere, alongside Canada, Guyana and Mexico, as tensions with Iran disrupt shipments through the Strait of Hormuz and US petrol prices climb to around $4.22 a gallon.