Trump wants to own Venezuela’s oil, but its largest oil customer is speeding toward clean energy

Ella Nilsen

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President Donald Trump wants the US to sell Venezuela’s oil. But who would buy it?

China has long been one of Venezuela’s biggest customers for oil. But its hunger for that oil is waning, as the country pulls off a stunningly fast transition to electric vehicles.

That transition means China’s oil imports likely won’t be seriously disrupted by the recent US military operation in Venezuela and Trump’s push for American companies to revitalize the oil infrastructure there, experts told CNN. China will probably be able to procure the oil it needs from Russia or Iran.

But there’s little doubt on the long-term trajectory of China’s oil demand: Analysts say it will trend downward. Many have projected the country has either already reached ‘peak oil’ or will very soon.