On January 9, 2026, President Donald Trump confirmed via social media that the anticipated second wave of U.S. military attacks on Venezuela has been cancelled. The decision reflects growing cooperation between the U.S. and Venezuela regarding the modernization of Venezuela’s oil and gas infrastructure. This shift occurs while U.S. sanctions remain in place, having constrained Venezuela’s oil exports and output for years.

Trump Calls Off Second Wave of Attacks, Highlights Energy Cooperation

President Trump stated that the planned fresh strikes “do not appear to be needed” thanks to ongoing collaboration with Caracas focused on rebuilding the country’s oil and gas sectors “in a much bigger, better, and more modern form.” Despite easing military pressure, Trump pointed out that Venezuelan oil tankers will remain anchored for “safety and security purposes.”

The President also revealed that major oil companies, including Chevron, Exxon Mobil, and ConocoPhillips, intend to invest at least $100 billion in Venezuela’s oil reserves. Executives from these firms are expected to meet with Trump at the White House this Friday, according to NBC News. This development is noteworthy given the U.S.’s long-standing sanctions regime aimed at diminishing the Maduro government’s control over the energy sector.

Market Response and Sector Implications Amid Sanctions

Venezuela possesses roughly 20% of the world’s proven oil reserves, but production has suffered due to damaged infrastructure and persistent U.S. sanctions. The recent U.S. strike last weekend that led to the capture of Nicolás Maduro marked a critical turning point. However, interim President Delcy Rodriguez has publicly asserted that Venezuela’s government remains in control. Meanwhile, the Venezuelan state-owned oil company is reportedly negotiating with the Trump administration over oil sales.

Financial markets reacted positively to these announcements. U.S. crude WTI futures rose 2.35% to $59.12 per barrel on the day’s session. Shares of Chevron and Exxon Mobil climbed 1.80% and 1.38%, respectively, fueled by expectations of renewed investment opportunities in Venezuela. Nevertheless, oil companies remain cautious; the Financial Times reported that these firms are seeking “serious guarantees” to mitigate risks before committing large-scale investments, highlighting the ongoing impact of sanctions in creating uncertainty.

Sanctions and Energy Sector Outlook

Sanctions have long hindered Venezuela’s oil industry, limiting both exports and infrastructure rehabilitation. Although the President’s cancellation of further attacks indicates a strategic shift, the oil sector’s recovery remains unpredictable. Trump’s comments that Venezuela agreed to supply up to 50 million barrels of oil to the U.S. underscore potential market impacts but depend heavily on legal and political developments amid sanctions.

Looking ahead, the planned $100 billion investment from major oil producers signals possible revitalization of Venezuela’s vast reserves if companies secure adequate assurances. Investors and market watchers should remain attentive to evolving U.S. sanctions policies and governmental stability in Caracas, as these factors will shape Venezuela’s ability to contribute meaningfully to global oil supply.