It all started with a direct U.S. attack on Venezuela earlier this month.

At the time, US President Donald Trump made it clear that he was only interested in the country’s vast oil reserves.

On Thursday, the Caracas government announced sweeping reforms to the oil industry.

Venezuela’s interim president has signed a law loosening state controls and opening the door for private companies to invest in the country.

For many, this paves the way for U.S. oil majors to return to Venezuela with significant investments.

But who will benefit from these changes, Venezuela or the United States? Or both?

host: Adrian Finnihan

Guest

Elias Ferrer – Founder and Director, Orinoco Research

Andrew Lipow – President, Lipow Oil Associates

Phil Gunson – Senior Analyst, International Crisis Group