Uploaded August 2026 | Updated September 2026, 2 weeks ago
President Trump is framing the deal for a US stake in 65 billion barrels of Venezuelan oil as a victory that will lower gasoline prices and replenish depleted crude reserves. It’s far from certain the plan will lead to either during his presidency — if at all.
Trump pushed for a blockbuster move after growing frustrated that private oil companies, including ExxonMobil Holdings Corp. and ConocoPhillips, weren’t moving quickly enough to boost production in Venezuela, according to people familiar with the matter. By starting a new venture directly controlled by the US, his administration is seeking to give producers more confidence to commit to developing the 17 oil fields involved in the deal.
For more, we speak with Ellen Wald, President and Founder of Transversal Consulting & Senior Fellow at the Atlantic Council Global Energy Center.
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President Trump is framing the deal for a US stake in 65 billion barrels of Venezuelan oil as a victory that will lower gasoline prices and replenish depleted crude reserves. It’s far from certain the plan will lead to either during his presidency — if at all.
Trump pushed for a blockbuster move after growing frustrated that private oil companies, including ExxonMobil Holdings Corp. and ConocoPhillips, weren’t moving quickly enough to boost production in Venezuela, according to people familiar with the matter. By starting a new venture directly controlled by the US, his administration is seeking to give producers more confidence to commit to developing the 17 oil fields involved in the deal.
For more, we speak with Ellen Wald, President and Founder of Transversal Consulting & Senior Fellow at the Atlantic Council Global Energy Center.
--------
Watch Bloomberg Radio LIVE on YouTube
Weekdays 7am-6pm ET
Saturday & Sunday 7am-10am ET
WATCH HERE: bit.ly/3vTiACF
Follow us on X: twitter.com/BloombergRadio
Subscribe to our Podcasts:
Bloomberg Daybreak: bit.ly/3DWYoAN
Bloomberg Surveillance: bit.ly/3OPtReI
Bloomberg Intelligence: bit.ly/3YrBfOi
Balance of Power: bit.ly/3OO8eLC
Bloomberg Businessweek: bit.ly/3IPl60i
Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:
Apple CarPlay: apple.co/486mghI
Android Auto: bit.ly/49benZy
Visit our YouTube channels:
Bloomberg Podcasts: youtube.com/bloombergpodcasts
Bloomberg Television: youtube.com/@markets
Bloomberg Originals: youtube.com/bloomberg
Quicktake: youtube.com/@BloombergQuicktake
