"This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America," Trump said.

Refiners in the U.S. have the distinctive ability to handle the type of heavy crude Venezuela claims to have in abundance.

The country could, eventually, attract investment and re-emerge as a force in the oil markets, but many analysts are concerned about an oversupply.

CNN’s Brian Todd reports for The Lead.

Trump says Venezuela will send up to 50M barrels of oil to U.S., with proceeds controlled by his administration.

Venezuela is sitting on the biggest known oil reserve in the world. So why hasn’t that translated into production, and why is the U.S. so interested? CNN’s Rafael Romo explains.

Plus… will Greenland be next, and who should we be keeping an eye on in British politics?

Chevron, Exxon Mobil, and ConocoPhillips have long histories in the country, though only Chevron operates there now. In theory, those companies could turn Venezuela into a gusher, ramping up the country’s production of 1 million barrels a day now.