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Here’s what to know about how the U.S. operation in Venezuela could impact gas prices

January 5, 2026
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President Trump claims Venezuela’s oil industry will make more money with the U.S. behind it. Venezuela is estimated to have 303 billion barrels of crude oil still in the ground, which is about 20% of the world’s reserves. CBS News business analyst Jill Schlesinger explains how it could impact U.S. prices.

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