What did Donald Trump say about Venezuela's potential departure from OPEC?

Donald Trump stated that Venezuela's decision to leave OPEC is entirely up to Venezuela itself, saying, 'Well, I don't know. That's up to them. I mean, that's going to be up to them.'

What recent agreement between the U.S. and Venezuela did Trump reference, and which company did he name as involved?

Trump referenced a recent deal between the U.S. and Venezuela granting Washington partial control of Venezuela's oil reserves, and he named Exxon (XOM.N) as one of the companies entering Venezuela as part of that arrangement.

Trump Says Venezuela's OPEC Departure Is Up to Them

Aug 31, 2026

President Trump stated Venezuela will decide its own OPEC status after a deal granting the U.S. partial control over Venezuelan oil reserves. ExxonMobil was identified as one of the companies entering Venezuela under this agreement.

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