Alex Ossola

On Exxon's most recent earnings call on May 1st, Woods said there were wide-ranging efforts to make Venezuela into, quote, attractive investment opportunities.

The Journal has learned that Exxon is in talks with Venezuelan officials about returning to the oil-rich country.

That would be its first time operating there in 19 years.

But many of the challenges that have long prevented American companies from investing in Venezuela are still there.

Colin Eaton covers U.S.

oil companies for WSJ and joins us now from Houston.

Colin, where do these discussions stand between Exxon and the Venezuelan government?

And we should note that when you reached out to Exxon for this story, the company declined to comment.

But still, what you've laid out here are some pretty significant hurdles.

Does it seem like Exxon will persevere in Venezuela anyway?

Why might it be important for the company to be there?

That was WSJ reporter Colin Eaton.

Thanks so much, Colin.

Coming up, how do you keep Putin away from your borders?

Estonia thinks it's figured it out.

That's after the break.

There's some layers of economic data for investors to digest today.

First, the Personal Consumption Expenditures Price Index, that's the Fed's preferred inflation gauge, rose 0.4 percent in April from the month before.

That's a bit less than the previous month, which is a good sign.

But from the year before, it rose 3.8 percent.