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Trump: Venezuela to turn over up to 50M barrels of oil to US

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Venezuela intends to turn over up to 50 million barrels of oil to the United States, President Donald Trump announced.

Trump said the oil would be sold at market price. He said the "money will be controlled by me ... to ensure it is used to benefit the people of Venezuela and the United States!"

Trump is reportedly set to meet Friday with Chevron, ConocoPhillips, Exxon Mobil and other domestic oil producers to discuss investment opportunities.

Read more from CNBC.

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