Trump Pressed Oil Chiefs to Fund Venezuela, Executives Balk

President Donald Trump urged top U.S. oil executives to invest in Venezuela's vast oil reserves during a White House meeting on Friday. However, the proposal received a cautious response from the industry leaders. ExxonMobil CEO Darren Woods publicly rejected the idea, calling the country "uninvestable" in its current state. This term means it is too risky for major financial investment. The executives indicated that sweeping political and economic reforms would be required in Venezuela before they would consider large-scale projects. The nation holds the world's largest proven oil reserves, but its industry has collapsed amid years of political crisis and U.S. sanctions.