Venezuelan President Nicolás Maduro claims the US is pressuring Venezuela to seize its vast oil reserves. This follows the US military seizing an oil tanker allegedly carrying Venezuelan oil in violation of sanctions. President Donald Trump has called on Maduro to leave power, accusing him of drug trafficking and sending criminals to the US. Venezuela holds the world’s largest proven oil reserves, about 303 billion barrels. Yet, oil production has plunged. In November, Venezuela produced only about 860,000 barrels per day, less than a third of its output 10 years ago and under 1% of global oil use. US sanctions, started in 2015, have hit Venezuela’s oil sector hard. Many Western firms, including US companies except Chevron, have largely left. Chevron operates under special licenses granted during the Biden administration, producing about one-fifth of Venezuela’s oil today. Some US politicians see opportunity in Venezuela’s oil if sanctions end. Florida Congresswoman María Elvira Salazar said American firms could “fix all the oil pipes, the whole oil rigs.” Trump has promoted more oil drilling to keep prices low. Yet the White House says its main focus is cutting illegal drug flow and pushing back against Maduro’s alleged illegitimacy. Press Secretary Karoline Leavitt said the administration is focused on "many things" with drug trafficking as the "number one" priority. Experts doubt oil is the prime reason for US actions. Clayton Siegle from the Center for Strategic and International Studies said, "I just have not seen the supporting evidence that oil is at the centre of its ambitions." US Gulf Coast refiners want Venezuela’s heavy crude, cheaper and easier to process. But Venezuela’s current low output limits its impact on US oil prices. Reviving production will need billions of dollars and up to a decade. Analysts warn that investment risks remain high due to political and economic hurdles. David Oxley, chief economist at Capital Economics, noted that global oil demand is slowing. "Anyone investing in the Venezuelan oil sector would have to think, is it worth it?" he said. Though "Drill, baby, drill" is catchy, private companies will invest only if profitable.