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Chevron Boosts Venezuelan Oil to Lower U.S. Fuel Prices

4/15/2026

Summary

Story summary

Andrew Walz, Chevron's president of global refining, says Venezuelan oil imports lower U.S. fuel prices, with gas at $4.12 per gallon.
Chevron operates its Pascagoula, Mississippi refinery continuously to process Venezuelan crude as Iran's war raises oil prices.
The Trump administration lifted sanctions on Venezuela's interim President Delcy Rodriguez to spur U.S. oil investment.
Walz plans a 50% increase in Venezuelan oil production in coming years.

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Story summary

Andrew Walz, Chevron's president of global refining, says Venezuelan oil imports lower U.S. fuel prices, with gas at $4.12 per gallon.
Chevron operates its Pascagoula, Mississippi refinery continuously to process Venezuelan crude as Iran's war raises oil prices.
The Trump administration lifted sanctions on Venezuela's interim President Delcy Rodriguez to spur U.S. oil investment.
Walz plans a 50% increase in Venezuelan oil production in coming years.