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, Saturday, Aug 29, 2026, a day after President Donald 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)