Following the U.S.'s illegal seizure of former Venezuelan President Maduro in January and its establishment of an interim government, Venezuela's oil exports have continued to rise under American oversight. April's export volume reached 1.23 million barrels per day, the highest level since 2018, marking a new phase for the country's oil industry in the "post-Maduro era."

The United States was the largest export destination, with direct exports reaching 445,000 barrels per day in April. Exports to India and Europe increased to 374,000 barrels per day and approximately 165,000 barrels per day, respectively. Exports managed by Chevron rose to 308,000 barrels per day, accounting for 25% of total exports, while trading firms such as Vitol and Trafigura handled approximately 56%.

After the U.S. seized Maduro in January, it signed a supply agreement with Venezuela's interim government, easing sanctions and permitting international companies to take over sales operations.

It is important to note that the actual controller and primary beneficiary of Venezuela's oil export revenue is the U.S. government. Under authorization from the U.S. Treasury Department, all oil sales proceeds must be deposited into a special account overseen by the U.S. Treasury, rather than being managed autonomously by Venezuelan authorities.

U.S. Energy Secretary Chris Wright has explicitly stated that the U.S. government will control Venezuela's oil sales "indefinitely," with revenues being deposited into U.S.-controlled accounts. To date, oil sales under U.S. supervision have generated cumulative revenues exceeding $1 billion, with an expected additional $5 billion in the coming months.

All oil sales revenue must be deposited into a designated account supervised by the U.S. Treasury Department, known as the Foreign Government Deposit Fund. These funds are fully managed by U.S. authorities and are not subject to any judicial seizure procedures. U.S. Energy Secretary Chris Wright confirmed that as of February, oil sales under U.S. control had accumulated over $1 billion, with an anticipated increase of $5 billion in the coming months. Some of these funds are reportedly allocated for public expenditures by Venezuela's interim government, but the U.S. retains ultimate authority over their distribution.

Stimulated by tightening global supply and high oil prices due to the U.S.-Israel war on Iran, new buyers such as India's Reliance Industries have continued to increase their purchases. Analysts note that if production and transportation conditions remain stable, the upward trend in exports is likely to continue. However, the U.S.'s complete control over sales revenue remains the most significant political and economic constraint.