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Trump Administration Taps Venezuelan Oil to Lower Gas Prices

3/9/2026

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Summary

Story summary

U.S. President Donald Trump’s Interior Secretary Doug Burgum says the Trump administration has made Venezuela a key U.S. oil supplier to ease Middle East disruptions.
Burgum notes Venezuelan oil is flowing to the United States.
This flow could lower gas prices.
He cites recent contracts by Venezuela’s state oil company to supply U.S. refineries.
He says higher prices would spur more domestic drilling, contrasting with Biden's administration.

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Story summary

U.S. President Donald Trump’s Interior Secretary Doug Burgum says the Trump administration has made Venezuela a key U.S. oil supplier to ease Middle East disruptions.
Burgum notes Venezuelan oil is flowing to the United States.
This flow could lower gas prices.
He cites recent contracts by Venezuela’s state oil company to supply U.S. refineries.
He says higher prices would spur more domestic drilling, contrasting with Biden's administration.