27.1 C
Delhi
Monday, March 2, 2026

‘Drill, baby, drill’: Donald Trump hails US oil boost, calls Venezuela ‘new friend and partner’

US President Donald Trump on Tuesday (local time) reiterated his “drill, baby, drill” push for the country, as he highlighted rising energy outputs. Addressing the 2026 State of the Union, he went on to describe Venezuela as America’s new “friend and partner. ”

Trump said, “American natural gas production is at an all-time high because I kept my promise to drill, baby, drill,” adding, “American oil production is up by more than 600,000 barrels a day.”

Highlighting imports from Venezuela, he added, “We just received from our new friend and partner, Venezuela, more than 80 million barrels of oil.” During the address, Trump also claimed petrol prices had fallen to below $2.30 per gallon in most states. However, according to AAA, the national average stood at $2.95 per gallon as of Tuesday — down from $3.14 a year earlier but still higher than the president’s figure.

Image credit: X

He further said that the country was set for a “turnaround for the ages,” as he sought to counter weak poll numbers and growing challenges ahead of key midterm elections.

Earlier in January, Trump suggested that Washington’s ties were improving with Caracas.

Speaking to reporters aboard Air Force One, he said that US was working “along really well” with Venezuela’s leadership after Maduro’s capture. “Venezuela is really working out well. We’re working along really well with the leadership, and we’ll see how it all works out,” Trump said.

He added that Venezuela’s acting president, Delcy Rodriguez, had asked the United States if it could “take 50 million barrels of oil.” “I said, ‘yes, we can’ — that’s $4.2 billion, and it’s on its way right now to the United States,” Trump said.

Last month, Trump had ordered the seizure of socialist leader Maduro on allegations of drug trafficking and other crimes. Following that move, Washington eased oil sanctions on Venezuela in a bid to boost output.

Latest

Sensex down 1,000 points: Why is the stock market falling today?

The S&P BSE Sensex fell sharply in early trade, and the NSE Nifty50 also slipped more than 1%, as investors reacted to the fast-changing situation between the U

Sensex, Nifty tank over oil price surge amid Iran-US conflict

Sensex tanks 1,000 points, Nifty below 24,900; oil stocks down

Sensex, Nifty opening: Will stock market fall today amid Iran’s war with US, Israel?

Early signals from Gift Nifty suggest a weak start. Gift Nifty futures were trading at 25,60 points at 8:30 am. This indicates that the benchmark Nifty 50 may o

Rupee to fall past 91/dollar as Iran war puts crude oil on the boil

Iran closes navigation through the Strait of Hormuz, choking India's crude oil imports. That then is set to have a domino effect on rupee and beyond.

Three crude oil tankers attacked in Strait of Hormuz as Iran war spreads

Tehran says it doesn't intend to shut the Strait of Hormuz but digital signals indicate that oil-tanker traffic may have all-but halted due to the Iran war.

Topics

Taliban attacks Pak’s Nur Khan base in latest escalation of cross border conflict

Taliban forces reportedly launched armed drone strikes targeting Pakistan’s Command and Control Centre at Nur Khan Air Base in Rawalpindi. Taliban forces carr

Satellite images show damage across Iranian military sites after US-Israel strikes

Fresh satellite imagery shows visible damage to air, drone and naval facilities near Iran’s Konarak region amid escalating regional tensions. The visuals offe

Sensex down 1,000 points: Why is the stock market falling today?

The S&P BSE Sensex fell sharply in early trade, and the NSE Nifty50 also slipped more than 1%, as investors reacted to the fast-changing situation between the U

Qatar, UAE, Syria, Oman: Full list of places that saw attacks amid US-Iran conflict

The Middle East is engulfed in conflict as Iran retaliates against US-Israeli strikes, launching missile and drone attacks across multiple countries. 

AIIMS-trained neurologist warns against repeatedly using reheated cooking oils: ‘Risk of cancer increases manifold…’

Reusing cooking oil is a common practice in many households, but does the money it saves outweigh the health risks? Dr Sehrawat explains the health risks.

Quote of the day by Jon Bon Jovi: ‘You better stand tall when they’re calling you out, don’t bend, don’t break…’

On his birthday, we look back at one of Jon Bon Jovi's most influential quotes, which highlights the importance of standing tall in the face of criticism.

Satellite images show black smoke over Dubai as Iran continues to fire missiles, drones

Iran-US war: Dubai's skyline has dramatically changed after Iranian attacks, with smoke visible in satellite images.

Sam Altman reveals real reason why OpenAI rushed to partner with US Military after Trump banned Anthropic

OpenAI executives have given more information regarding the AI startup’s contract with the US Department of Defense after facing backlash online. The Sam Altm
spot_img

Related Articles

Popular Categories

spot_imgspot_img