ExxonMobil shares gained 1.85% to $159.61 as investors assessed President Trump’s agreement allowing U.S. companies to participate in developing Venezuela’s oil resources. The proposed private joint venture would give the U.S. an effective 55% interest in 65 billion barrels of proven reserves and attract more than $100 billion in private investment, while Venezuela could receive more than $209 billion in tax revenue over the venture’s lifetime. The arrangement would also give the U.S. access to Venezuelan crude at cost for the Strategic Petroleum Reserve and military needs. Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Venezuelan businessman Alejandro Betancourt López were involved in the negotiations. Delcy Rodríguez has separately described a 25-year energy agreement covering 17 strategic oilfields and eight greenfield blocks, with a target of raising production to 1.5 million barrels per day from about 1.25 million. Gasoline prices are averaging roughly $4.08 per gallon amid supply disruptions linked to the conflict with Iran, but energy and infrastructure analysts say Venezuelan output would take years to recover. The deal follows the January 2026 U.S. military operation that resulted in Nicolás Maduro’s capture and the installation of Interim President Delcy Rodríguez. Exxon CEO Darren Woods previously described Venezuela as currently uninvestable, although a source familiar with the company’s strategy said Exxon was prepared to send a technical team within weeks. Exxon’s estimated Oct. 30 results are expected to show earnings per share of $3.60 and revenue of $99.80 billion, compared with $1.88 and $85.29 billion a year earlier. Analysts have a Buy consensus and an average price forecast of $157.