Trump Says Oil Companies Will Spend $100 Billion in Venezuela

President Donald Trump (C) speaks during a meeting with U.S. oil companies’ executives in the East Room of the White House in Washington on Jan. 9, 2026. Saul Loeb/AFPWASHINGTON—President Donald Trump invited executives of large oil companies to the White House on Friday to discuss investment opportunities that will restore Venezuelan oil infrastructure.“We’re going to discuss how these great American companies can help rapidly rebuild Venezuela’s dilapidated oil industry and bring millions of barrels of oil production to benefit the United States, the people of Venezuela, and the entire world,” Trump said as he welcomed the executives.