A Venezuelan delegation is set to participate in this week’s G20 energy meetings in Houston, U.S. officials confirmed Monday, as policymakers confront soaring energy prices exacerbated by conflict in the Middle East.
Interior Secretary Doug Burgum stated the summit—held in the heart of the U.S. oil industry—will feature representatives from G20 nations alongside Venezuelan officials. “This reflects a shift in the geopolitical center of oil production away from the Middle East toward the Western Hemisphere, especially given current concerns over supply disruptions,” Burgum told Fox Business.
The Houston sessions, running through Wednesday, coincide with Europe’s scramble to refill gas storage ahead of winter amid ongoing volatility in global energy markets. Delegations from the world’s largest economies—including China, India, Japan, and Germany—will convene with major producers such as Canada and Saudi Arabia.
According to Bloomberg, Venezuelan Oil Minister Paula Henao and Jovanny Martinez, vice president of state-owned PDVSA, are slated to attend. On the U.S. side, Burgum will be joined by Energy Secretary Chris Wright.
Last August, the Trump administration announced an agreement granting the United States majority control over 65 billion barrels of Venezuela’s proven petroleum reserves. Burgum’s office told AFP that Caracas’s participation signals deepening energy engagement, expanded opportunities for U.S. firms, and the pursuit of additional deals.
While the administration has highlighted Venezuela’s potential to bolster global supply as prices surge due to the U.S.-Iran conflict, analysts caution that significantly increased output remains years away.
Domestically, pump prices have soared; the national average for a gallon of diesel reached a record $6.20, per the American Automobile Association (AAA). Regular gasoline prices are also 44 percent higher than pre-war levels.
The conflict’s economic fallout has heightened Republican concerns ahead of the November midterm elections. President Trump has accused Iran of prolonging the war for political damage and claimed it would end “immediately” after the vote. He has also blamed Ukrainian President Volodymyr Zelensky for diesel shortages resulting from strikes on Russian refineries.
Russian diplomats indicated Saturday that Moscow would send officials to the Houston summit. The unexpected attendance of Russian Finance Minister Anton Siluanov at a prior G20 meeting two weeks ago drew sharp attention. Ukraine’s European allies expressed disappointment over the U.S. decision to include Russia, which runs counter to efforts to isolate Moscow over its invasion of Ukraine.
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