Venezuelan lawmakers have approved a law change that will make it easier for foreign companies to take part in the country’s oil industry, in a move by Caracas to meet the demands of US President Donald Trump.

Here are the basic questions about what happened on Jan. 3, the context you should know, and where things could go next, answered.

The licence issued by the US Treasury Department Thursday covers a variety of activities that could expedite the movement of Venezuelan crude, including exporting, selling, storing and refining that oil,

Venezuela claims the world’s largest oil reserves, but most of that oil is extra-heavy, expensive to produce, and highly sensitive to prices and infrastructure.

One of US envoy Richard Grenell's top aims for the visit with Venezuelan President Nicolas Maduro securing the release of detained Americans.

Venezuelan officials welcomed the announcement, which followed the U.S. capture this month of their president, Nicolás Maduro.

Delcy Rodriguez is slow-walking human-rights and democratic reforms, aiming to outlast Washington’s focus on her country as U.S. midterms approach.