Washington (United States) (AFP) - US President Donald Trump will meet on Tuesday with oil refining executives, in an effort to curb rising fuel prices due to the war on Iran, ahead of the midterm elections scheduled for November.
Published on: 08/31/2026 - 20:07
The talks announced by the White House also come days after Trump announced an agreement to obtain a huge share in the oil reserves of Venezuela, whose leader Nicolas Maduro was overthrown by US forces in January.
Republicans fear that voters will punish them in the crucial midterm elections, after rising fuel prices led to a significant increase in the cost of living for Americans.
White House spokeswoman Taylor Rodgers told Agence France-Presse on Monday, "The president will meet with leaders in the energy sector to cooperate on the best ways to increase refining capacity, strengthen US dominance in the energy field across the entire supply chain, and reduce prices for American citizens."
A White House official said, in a separate statement, that the talks come “at a very appropriate time, in light of the increased flow of Venezuelan crude to American refineries.”
The White House did not release a list of companies participating in Tuesday's meeting, but said it would include "a mix of small, medium, and large refining and distribution companies."
Trump said on Friday that the agreement with Venezuela, which he described as the largest in history, would give the United States control over the majority of 65 billion barrels of proven Venezuelan oil reserves.
Venezuela has the world's largest proven reserves, and its government has operated under intense pressure and close oversight from the Trump administration since the United States ousted and detained Maduro.
Trump hopes that Venezuelan oil will compensate for the shortage in global supplies resulting from the war on Iran that he launched jointly with Israel six months ago.
The United States and Iran exchanged bombardments on Sunday for the first time in a month, amid a state of stalemate as Tehran continues to close the strategic Strait of Hormuz, while Washington continues to impose a counter-naval blockade on its ports.
© 2026 AFP
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