Trump meets oil executives at the White House to discuss Venezuela investments

President Trump held a closed-door meeting with major oil executives to discuss possible investment — he said he expected about $100 billion to revive Venezuelan oil output; companies have not confirmed firm commitments.

President Donald Trump met with major oil executives at the White House in a private session to discuss potential investment in Venezuela's petroleum sector and ways to restore output. He has framed recent U.S. actions in Venezuela as creating new economic opportunities and has publicly described efforts to take control of certain Venezuelan oil sales. The administration and the president have cited lower gasoline prices as a domestic goal tied to the discussion. Venezuela's oil production has fallen below one million barrels per day, which is part of the context for the meeting. Known details: - The meeting was scheduled for 2:30 p.m. EST and was set to occur behind closed doors, according to the president's daily schedule. - The president said he expected roughly $100 billion in investments from "big oil," and he announced this expectation on social media and in interviews. - The administration has said it seized three tankers carrying Venezuelan oil and would control sales of an estimated 30 million to 50 million barrels of previously sanctioned Venezuelan oil, according to presidential statements. - The article mentions Chevron as attending and notes ExxonMobil and ConocoPhillips had past projects in Venezuela; large U.S. oil companies had not confirmed binding investment commitments and noted that contracts and guarantees would be needed. Summary: The meeting is framed by the administration as an effort to attract private capital to help restore Venezuelan oil production and to support lower fuel prices domestically. It is not clear whether companies will make binding commitments, and no specific contracts or guarantees were reported. Undetermined at this time.