"The brutal Maduro Regime has caused unspeakable suffering amongst the citizens in Venezuela and I commend the brave Venezuelans who are standing up for their freedom and for their basic human rights," Young said Saturday, the Hill reported.
"However, I am concerned by reports of possible US military intervention in Venezuela," he added.
"I am calling on the Chairman and Ranking Member of the Senate Foreign Relations Committee to hold immediate hearings with key members of the administration next week to discuss their plans for Venezuela and to explain any plans to deploy US forces to the country," he stated.
According to data from the Organization of the Petroleum Exporting Countries (OPEC), Venezuela's oil reserves were equal to around 303 billion barrels in 2017.
However, the attempted coup on Tuesday was a failure, with military forces retaining loyalty to Maduro.
Earlier this week, US Secretary of State Mike Pompeo told Fox News that "military action is possible," adding that, "if that's what's required, that's what the United States will do."
In a similar vein, US National Security Adviser John Bolton told reporters outside the White House on Tuesday that "all options are on the table," similar to rhetoric previously used by US President Donald Trump.