President Donald Trump said Tuesday night that Venezuela will turn over 30 million to 50 million barrels of oil to the United States, to be sold at market value and with the proceeds controlled by the US.

Interim authorities in Venezuela will turn over “sanctioned oil” Trump said on Truth Social.

The US will use the proceeds “to benefit the people of Venezuela and the United States!” he wrote.

Energy Secretary Chris Wright has been directed to “execute this plan, immediately,” and the barrels “will be taken by storage ships, and brought directly to unloading docks in the United States.”

CNN has reached out to the White House for more information.

A senior administration official, speaking under condition of anonymity, told CNN that the oil has already been produced and put in barrels. The majority of it is currently on boats and will now go to US facilities in the Gulf to be refined.

Although 30 to 50 million barrels of oil sounds like a lot, the United States consumed just over 20 million barrels of oil per day over the past month.

That amount may lower oil prices a bit, but it probably won’t lower Americans’ gas prices that much: Former President Joe Biden released about four to six times as much — 180 million barrels of oil — from the US Strategic Petroleum Reserve in 2022, which lowered gas prices by only between 13 cents and 31 cents a gallon over the course of four months, according to a Treasury Department analysis.

US oil fell about $1 a barrel, or just under 2%, to $56, immediately after Trump made his announcement on Truth Social.

Selling up to 50 million barrels could raise quite a bit of revenue: Venezuelan oil is currently trading at $55 per barrel, so if the United States can find buyers willing to pay market price, it could raise between $1.65 billion and $2.75 billion from the sale.

Venezuela has built up significant stockpiles of crude over since the United States began its oil embargo late last year. But handing over that much oil to the United States may deplete Venezuela’s own oil reserves.

The oil is almost certainly coming from both its onshore storage and some of the seized tankers that were transporting oil: The country has about 48 million barrels of storage capacity and was nearly full, according to Phil Flynn, senior market analyst at the Price Futures Group. The tankers were transporting about 15 million to 22 million barrels of oil, according to industry estimates.

It’s unclear over what time period Venezuela will hand over the oil to the United States.

The senior administration official said the transfer would happen quickly because Venezuela’s crude is very heavy, which means it can’t be stored for long.

But crude does not go bad if it is not refined in a certain amount of time, said Andrew Lipow, the president of Lipow Oil Associates, in a note. “It has sat underground for hundreds of millions of years. In fact, much of the oil in the Strategic Petroleum Reserve has been around for decades,” he wrote.

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Today’s top stories

Ousted Venezuelan President Nicolás Maduro and his wife, Cilia Flores, pleaded not guilty yesterday to federal charges, which include narco-terrorism. U.S. military forces seized them both from their country over the weekend. Yesterday marked their first appearance in a federal court in New York.

• 🎧 Before sitting down in court, Maduro made eye contact with reporters and wished them a “Happy New Year,” NPR’s Jasmine Garsd, who was in the courtroom, tells Up First. Flores walked in behind him and appeared to have a swollen eye and a bandaged forehead, which her lawyers explained came from her getting hurt during her capture. Outside the courthouse were heated exchanges between two groups of protesters: those who were against America’s intervention in Venezuela and Venezuelans celebrating Maduro’s capture. A man named Izzy McCabe says the capture is a ploy to take oil and foreign resources from Venezuela. Another protester, Maria Seu, said many countries have been living off Venezuela’s resources for years.

President Trump is set to meet with House Republicans at the Kennedy Center today as lawmakers call for more information on the operation in Venezuela and the U.S. role there moving forward. The meeting comes a day after top administration officials briefed Capitol Hill leaders on Maduro’s capture, leaving a largely partisan divide on the operation. Lawmakers questioned Trump’s decision not to inform Congress before carrying out the weekend seizure. Democrats say the action, which the White House is calling a law enforcement operation, is an act of war. Meanwhile, Republicans have largely aligned with the president’s stance on the situation.

• 🎧 Democrats say the operation is just the latest example of the White House circumventing Congress, NPR’s Barbara Sprunt says. House Speaker Mike Johnson said Trump has the authority to deploy military forces to address threats to the U.S. When the president has joined meetings like the one he is expected to attend today in the past, it has become almost like a rally. Sprunt says she expects the same again today. The party is gearing up for the midterm elections, which means Venezuela will likely not be the only topic discussed.

The Centers for Disease Control and Prevention is reducing its number of recommended childhood vaccines from 17 to 11. The agency’s new schedule, which includes vaccines that had previously been recommended for all children — such as those for rotavirus, hepatitis A and B, meningitis and seasonal flu — is now more restrictive. The agency made these changes in response to a memo Trump issued in December directing health officials to align the U.S. schedule with those in “peer, developed countries” such as Germany and Japan.

• 🎧 The new restrictions will lead to fewer children getting vaccinated, with consequences that could be seen for years down the line, Dr. Sean O’Leary, with the American Academy of Pediatrics, tells NPR’s Pien Huang. The agency implemented these changes without any new scientific developments behind them, Huang notes. The agency sidestepped its own advisory committee and didn’t consult vaccine makers.

Today’s listen

Does the lack of winter sunlight drain your energy, or do you struggle to keep up with life’s demands during this season? If so, you may be experiencing seasonal affective disorder, or SAD. In this episode of It’s Been A Minute, host Brittany Luse shares the morning routine she developed for herself to combat this type of depression. She is also joined by Dr. Norman E. Rosenthal, a psychiatrist and scientist who first described seasonal affective disorder in the 1980s, to receive feedback on her SAD routine and learn about how we can all think differently about the rough winter months.

Special series

Trump has tried to bury the truth of what happened on Jan. 6, 2021. NPR built a visual archive of the attack on the Capitol, showing exactly what happened through the lenses of the people who were there. In “Chapter 2: Stop the Steal,” we look at how false claims of a stolen election mobilized Trump supporters.

On election night in 2020, Trump claimed victory and said the election was being stolen long before officials declared a winner. He and his allies launched the “Stop the Steal” movement almost immediately, even as U.S. courts rejected the widespread claims of election fraud. Trump campaign officials also admitted they found no evidence that could have changed the outcome of the election. Right-wing activists such as Infowars host Alex Jones and the white nationalist and Holocaust denier Nick Fuentes mobilized the movement. On the day that Congress was set to meet to certify the election, Trump pressured Vice President Mike Pence and Republicans in Congress to try to reject Biden’s victory. These videos highlight the movement that led to Jan. 6, 2021.

To learn more, explore NPR’s database of federal criminal cases from Jan. 6. You can also see more of NPR’s reporting on the topic, including an Instagram post debunking myths about looting.

3 things to know before you go

A pill form of Wegovy, the popular obesity drug previously available only by injection, is now being stocked by pharmacies.

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1. Pharmacies across the U.S. began stocking the pill version of the popular obesity drug Wegovy yesterday, offering patients an alternative to the injectable form.
2. Minnesota Gov. Tim Walz ended his bid for a third term yesterday, saying that he wants to dedicate his final year in office to combating fraud in state programs rather than campaigning. (via MPR)
3. Wegmans says it is using facial recognition technology in a handful of stores across multiple states to help identify people “previously flagged for misconduct.” (via WXXI)

This newsletter was edited by Suzanne Nuyen.