Trump Meets Oil Executives Amid Rising Gas Prices

President Donald Trump met with oil industry leaders at the White House to discuss expanding domestic refining capacity and boosting oil production amid rising gas prices. The national average price of gasoline has remained above $4 per gallon, prompting concerns about the impact on consumers.

The meeting focused on increasing oil output from Venezuela, where Chevron plans to expand its operations in a move aimed at boosting production. Chevron is the only major American producer with a significant presence in the country and holds concessions to 17 oil fields for 100 years.

Energy Secretary Chris Wright and Chevron executives are expected to travel to Venezuela on Wednesday to formally unveil the investment, which has sparked controversy due to concerns about the legitimacy of the deal. A U.S. official defended the arrangement, stating that no U.S. laws were violated and that NABEP was the only viable partner.