DETAILS: $7B Venezuelan oil deal could ease gas prices

FOX Business' Connor Hansen joins 'America's Newsroom' to detail a $7 billion Chevron expansion in Venezuela as the administration pitches crude imports to lower gas prices and refill the strategic petroleum reserve.

Chevron's $7 Billion Investment: Chevron announced a major expansion of its operations in Venezuela, planning to invest over $7 billion over the next five years to more than double oil production to 600,000 barrels per day.

U.S. Access to Oil Reserves: President Trump announced that the U.S. is gaining access to approximately 65 billion barrels worth of Venezuelan oil reserves to help refill the Strategic Petroleum Reserve and exert downward pressure on gas prices.

Refining Capacity Efforts: President Trump met with leaders of American refining companies to discuss ways to boost U.S. refining capacity for gasoline and diesel, which officials identified as a major bottleneck affecting pump prices.

Timeline Challenges: While the White House expects downward pressure on prices in the coming weeks, energy analysts caution that revitalizing Venezuela's aging oil infrastructure could take years to fully realize.

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