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The U.S. Venezuela oil deal won't lower your gas prices. Here's what you need to know

Aug 31, 2026 · Julia Simon

Originally published by NPR News Read the original

The U.S. Venezuela oil deal won't lower your gas prices. Here's what you need to know
A pedestrian walks past a mural featuring oil wells in Caracas, Venezuela, on Saturday, a day after President Trump announced a deal giving the United States a stake in Venezuela
A pedestrian walks past a mural featuring oil wells in Caracas, Venezuela, on Saturday, a day after President Trump announced a deal giving the United States a stake in Venezuela

The Trump administration announced a deal Friday to develop a vast amount of Venezuela's oil reserves, with the U.S. taking a majority stake. Energy experts say there are many reasons to be skeptical.

(Image credit: Pedro Mattey)

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