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Venezuela's Oil Crisis: Trump Promises Investment Amid Challenges

1/17/2026

Summary

Story summary

Venezuela's oil production has fallen to about 860,000 barrels per day, far below its 1970s peak of 3.5 million barrels per day.
U.S. President Donald Trump has promised oil companies would invest billions to revive Venezuela's production.
ExxonMobil's CEO labeled Venezuela "uninvestable," prompting Trump to consider excluding the company from future investments.
Analysts warn that without political and economic reforms, increasing foreign investment may not lead to prosperity in Venezuela.

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Story summary

Venezuela's oil production has fallen to about 860,000 barrels per day, far below its 1970s peak of 3.5 million barrels per day.
U.S. President Donald Trump has promised oil companies would invest billions to revive Venezuela's production.
ExxonMobil's CEO labeled Venezuela "uninvestable," prompting Trump to consider excluding the company from future investments.
Analysts warn that without political and economic reforms, increasing foreign investment may not lead to prosperity in Venezuela.