President Donald Trump on Sunday raised the possibility that the United States could remain in Iran to "keep the oil," comparing the idea to his administration's oil agreement with Venezuela as the months-long war continues to push up U.S. fuel prices.
"We'll ultimately get out unless we decide to stay and keep the oil, like Venezuela," Trump told reporters in Doonbeg, Ireland. He again predicted the conflict would end after November's midterm elections and said Iran "wants to make a deal so badly, and is calling constantly."
Trump offered no details about what remaining in Iran or keeping its oil would entail. The comments build on his previous statements about controlling Iranian oil supplies. In March, he described taking the oil as his "favorite thing."
Q: What do you make of the Gulf nations meeting with Iran?
— Aaron Rupar (@atrupar) September 13, 2026
TRUMP: I don't care. That's up to them. We'll ultimately get out. Unless we decide to stay and keep the oil! Like Venezuela pic.twitter.com/4BCc0GOMzG
The president has repeatedly linked the war's duration and its economic consequences to the midterms. Last week he predicted the conflict would end "immediately after the election," claiming Tehran was holding out to influence the vote. Days earlier, he said oil prices would "drop precipitously" once the United States wins the war, forecasting gasoline prices eventually below $2 a gallon.
The national average reached $4.31 a gallon Sunday, according to AAA, more than $1.10 above its level a year earlier. Iran's restrictions on the Strait of Hormuz, a conduit for roughly one-fifth of global oil supplies, have contributed to higher energy prices.
Trump's reference to Venezuela comes after his administration reached an agreement giving the Pentagon's Office of Strategic Capital a 35% stake in North American Blue Energy Partners, Venezuela's second-largest private oil producer. The company received a 100-year concession covering fields estimated to hold about 65 billion barrels of oil.
Under the agreement, the United States has the right to buy 20% of the company's production at cost, with the oil potentially going to the Strategic Petroleum Reserve. The State Department has first refusal on the remaining production.
Venezuelan interim President Delcy Rodríguez said the 25-year bilateral project targets production of more than 1.5 million barrels per day from 17 oilfields.
Trump has also suggested that U.S. companies could play a role in rebuilding Iran's oil industry. Victoria Coates of the Heritage Foundation told The Hill in March that while the United States does not need Iranian oil, opening the sector could create opportunities for businesses to enter Iran and rebuild its energy infrastructure, drawing a comparison with Venezuela.
