MONDAY, AUGUST 31, 2026|No. 13295
Energy · Geopolitics

US and Venezuela Forge Oil Deal Amidst Domestic Opposition

A new agreement granting US companies access to a significant portion of Venezuela's oil reserves has been met with both praise for potential economic recovery and criticism regarding its legality and implications.

Oil derricks stand tall against a dramatic sky, symbolizing the vast energy resources of Venezuela.
Oil derricks stand tall against a dramatic sky, symbolizing the vast energy resources of Venezuela.
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Opposition in Venezuela as interim leader insists the deal with Washington will help with the country’s recovery.

A new deal between Caracas and Washington would give US companies access to more than a fifth of Venezuela’s vast oil reserves.

But there’s opposition in Venezuela, as well as debate about whether the plan is legal.

What could the agreement mean?

Presenter: Tom McRae

Guests:

Jose Chalhoub – political risk and oil analyst

Cornelia Meyer – commodity specialist and CEO of Meyer Resources

Francisco Rodriguez – senior research fellow at the Center for Economic and Policy Research at the University of Denver, former head of the Economic and Financial Advisory of the Venezuelan National Assembly

Published On 31 Aug 202631 Aug 2026

PAN's pipeline reviewed approximately 2 open sources for this article. No human editor reviewed this article before publication.

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