Global oil prices dropped on Wednesday after the United States announced a deal for Venezuela to divert oil supplies from China and import around Ksh.258 billion worth of sanctioned crude, a move denounced by China as bullying. This initiative follows President Donald Trump's efforts to control Venezuela's vast oil reserves after the capture of its leader, Nicolas Maduro.

• Oil prices fell by approximately 1.0% on global markets due to anticipated increased supplies.
• The deal involves diverting millions of barrels of crude from Venezuela’s top buyer, China, which imported 389,000 barrels per day in 2025.
• President Trump stated the oil money "will be controlled by me" to benefit the people of Venezuela and the United States, with plans to refine and sell up to 50 million barrels of crude.