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Trump Announces $100 Billion Venezuela Oil Deal: Could Gas Prices Fall?
Trump announces a Venezuela oil deal with $100 billion in investment that could increase US oil supplies and lower gas prices over time.
By  Ernesto Iván Vargas Martínez
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Trump Announces $100 Billion Venezuela Oil Deal: Could Gas Prices Fall?
Foto EFE

Posted on08/29/26 at 06:03

  • Trump announces historic oil agreement
  • Promises $100 billion in investment
  • Gas prices could drop in the future

Donald Trump announced on Friday a oil agreement with Venezuela that, according to his administration, will allow the United States to expand its access to Venezuelan oil reserves in a historic manner.

The president stated that the operation will guarantee majority US control over more than 65 billion barrels of proven reserves, a figure that would have enormous energy implications.

Trump maintained that the agreement will allow the US to more than double its oil reserves and significantly increase the supply available to the North American market.

The White House is also presenting the operation as a bet to reduce gas prices in the long term, although the announcement does not specify how much prices could drop or when it would happen.

Oil agreement promises $100 billion in investment

The agreement was negotiated by Secretary of State Marco Rubio and other US officials in coordination with the Venezuelan interim government led by Delcy Rodríguez.

Rubio ensured that the new energy relationship could mobilize around $100 billion in private investment and generate thousands of jobs while contributing to the reconstruction of Venezuela’s deteriorated oil industry.

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For Washington, the strategic goal goes beyond increasing reserves: it seeks to secure a stable source of low-cost oil within the Western Hemisphere.

The magnitude of the project will now depend on how private companies participate, the investment conditions, and Venezuela’s ability to progressively increase its oil production.

Will gas prices drop in the US?

Why it matters: Gas prices directly affect the budget of millions of families, but an increase in reserves does not necessarily mean an immediate reduction in prices at the pump.

The fact: Trump ensures that the US will obtain majority control over more than 65 billion barrels of proven Venezuelan reserves and that the operation will more than double US reserves.

The process: Converting oil reserves into available production requires investment, infrastructure, extraction operations, transportation, and refining capacity, so the effects may take time.

What consumers can do: Consumers can follow local gas prices and avoid assuming that the announcement will automatically produce an immediate drop in the cost per gallon.

Venezuela and the US enter a new phase

The agreement represents another turn in the relationship between Washington and Caracas after years of sanctions, political confrontations, and restrictions that limited Venezuelan oil activity.

According to the information provided, the rapprochement accelerated after the capture of Nicolás Maduro by US forces on January 3, 2026, and the subsequent gradual lifting of sanctions.

Trump now considers Rodríguez a valid interlocutor for negotiations and presents oil cooperation as a central piece of the new relationship between the two countries.

The true test will come with implementation: how much private capital will enter, how much additional oil Venezuela can produce, and especially if that increased supply ultimately reflects in the pockets of Americans.

Sources: Efe, Univision