Energy executives to meet today at White House: Here's what to expect

Summary

Brian Sullivan reports from Washington ahead of a White House meeting between President Trump and major oil and gas executives to discuss potential investment in Venezuela. Sullivan says no companies have immediate plans to enter Venezuela and questions the $100 billion figure, noting weak oil economics at $56-$58 per barrel. He also flags that Iranian protests could disrupt 3.2 million barrels per day and change global oil supply-demand calculations.

• White House meeting with oil and gas CEOs focuses on Venezuela investment.
• Attendees include ExxonMobil, ConocoPhillips, Chevron, Continental Resources, Shell, and Repsol.
• Trump claims $100B Big Oil investment in Venezuela; Sullivan is skeptical.
• Sullivan says no current plans for companies to enter Venezuela directly.
• Oil at $56-$58 with supply exceeding demand weakens Venezuela investment case.
• Iran protests could disrupt 3.2M bpd supply if Iran's state oil operations are affected.
• Sullivan says the global oil market links Iran developments to Venezuela calculus.