U.S. President Donald Trump's administration is considering a plan to extend Chevron's license to pump oil in Venezuela by at least 60 days, according to two people familiar with the matter.

US President Donald Trump's administration is considering extending an April deadline for Chevron to wind down operations in Venezuela after he suspended a controversial oil licence in late February.

President Donald Trump indicated he is open to extending Chevron's license to produce oil in Venezuela during a meeting with oil executives Wednesday, according to The Wall Street Journal. The Trump administration had given Chevron until April 3 to wind down its operations.