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Trump wants Venezuela's oil — markets may not care

U.S. President Donald Trump made no secret of his plan for Venezuela. "One of the things the United States gets out of this will be even lower energy prices," Trump said in a Jan. 9 meeting with energy executives. “Our giant oil companies will be spending at least $100 billion of their money (in Venezuela),” the president said. Darren Woods, head of oil giant Exxon Mobil, wasn’t sold on Trump’s idea. “We’ve had our assets seized there twice, and so you can imagine that to reenter a third tim

The El Palito refinery is seen at dusk in Puerto Cabello, Venezuela, on Dec. 18, 2025.
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