# The US is gobbling up Venezuelan oil, but will it lower fuel prices?

https://mins.news/en/item/41922

- Al Jazeera, 2026-09-02 11:43 UTC
- Economy
- Original: https://www.aljazeera.com/news/2026/9/2/the-us-is-gobbling-up-venezuelan-oil-but-will-it-lower-fuel-prices?traffic_source=rss

> Analysts say Venezuela’s heavy, sour crude is expensive to extract and refine and is unlikely to quickly replace supplies disrupted by the Strait of Hormuz blockade. The Trump administration’s deal would give the US control of more than 65 billion barrels through a joint venture, but US crude prices have risen since it was announced.

## Stories

- [US Venezuela Oil and Diplomatic Relations](https://mins.news/en/topic/us-venezuela-oil-relations) — Markdown: https://mins.news/en/topic/us-venezuela-oil-relations.md

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