Trump seeks $100bn for Venezuela oil, but Exxon boss says country 'uninvestable'
In this Arabic interview recorded in Washington, host Speaker A converses with Dr. Omid Shokri, a visiting professor at George Mason University and energy‑strategy expert. The discussion begins with former President Trump’s recent remarks about seeking $100 billion to revive Venezuela’s oil sector. Dr. Shokri explains that the United States does not need Venezuelan oil for its own consumption, but sees a strategic opportunity to increase its influence over maritime routes and global energy markets. He highlights Venezuela’s massive oil reserves and the country’s severe governance and corruption challenges, arguing that U.S. technology and companies such as Chevron and ExxonMobil could help restore production if a new investment‑friendly political climate is established. He forecasts that, over the next five to ten years, Venezuelan output could rise by up to half a million barrels per day, contingent on foreign direct investment. The conversation then turns to the implications for the global oil market: Dr. Shokri expects oil prices to hover between $60‑$80 per barrel by the end of 2026, with a possible short‑term dip if Venezuelan production ramps up, but a longer‑term rise if other producers (e.g., Libya, Iran, Russia) also increase supply, potentially pushing prices down to $45 per barrel. Finally, he notes that the ongoing energy transition, driven by European investment and a shift away from oil and gas, will reduce oil’s share in the global energy mix, influencing price dynamics. The interview concludes with a thank‑you from the host.
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