Latest / Energy Economics with Fexingo: Oil Prices, Renewables, and the Cost of Power
The Venezuela Oil Deal That Could Reshape Supply
On August 28, 2026, the Trump administration announced a deal with Venezuela to secure access to more than 65 billion barrels of oil reserves. Lucas and Luna break down what this actually means for global oil markets, U.S. refiners, and gasoline prices. With WTI at 83.90 and Brent at 88.20, the deal comes at a time when supply concerns are dictating prices. But Venezuela's oil sector is in shambles—production has collapsed to historic lows, and sanctions have starved it of investment. Can this deal actually bring meaningful barrels to market? Or is it more about geopolitics than supply?…
The skinny
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