Venezuela's OPEC Exit Decision Now Up to Them, Trump Says

US President Donald Trump stated that it's up to Venezuela to decide whether to leave OPEC. This comes after Bloomberg reported that Venezuela was considering leaving the organization, which it has been a part of for over 60 years.

Trump mentioned that major US companies such as Exxon Mobil and Chevron are committed to investing in Venezuela. He also announced a new deal where the US will lock in 17 large oilfields containing around 64 billion barrels of proved crude reserves, equivalent to about one-fifth of the country's total.

The deal is expected to secure up to 1.5 million barrels per day of supply for the US. Trump's administration has maintained a strict oversight of Venezuela's oil industry since January when they signed an oil supply pact with global trading houses that allowed Venezuela to boost its crude exports to the US.