Venezuela: Could the oil agreement with Trump bring forth a new Chávez?

Author: Francis NoudePublished on: September 4, 2026Country: Venezuela
PoliticsBusiness & Economy
Venezuela: Could the oil agreement with Trump bring forth a new Chávez?

The democratic opposition and the far-left chavista are opposing the oil agreement between Washington and Caracas, denouncing a cession of national heritage. This agreement would allow the United States to control 17 oil fields, representing about 65 billion barrels of reserves, for a duration of 100 years. Parallels are drawn with Hugo Chavez's rise in the late 1990s, when resentment towards foreign oil companies fueled his electoral campaign. Bloomberg's analysis raises concerns about a potential resurgence of nationalist tensions in Venezuela.

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