President Donald Trump has been having trouble convincing US oil companies to invest in Venezuela's oil operations. This is despite the US needing Venezuelan oil, likely more than at any point since the 1970s oil crisis. Trump's efforts to pressure oil executives publicly have not been successful.

The US had taken action against Venezuelan leader Nicolás Maduro, capturing and arresting him in January on conspiracy charges. Attempts to reform the oil sector through agreements with Delcy Rodríguez, Maduro's successor, have also not prospered. Further details on the situation and analysis are available from David Goldman, CNN.