Trump announces deal with Venezuela to secure more than 65 billion barrels of oil reserves
- On Friday, President Donald Trump announced an agreement with Venezuela's interim President Delcy Rodriguez securing majority U.S. control of more than 65 billion barrels of oil through a partnership with private business, directed by Secretary of State Marco Rubio and Secretary of War Pete Hegseth.
- U.S. strategic oil reserves fell below 300 million barrels in early August, prompting the administration to seek new crude sources after six months of Iran-related supply disruptions disrupted global markets and pressured gasoline prices ahead of midterm elections.
- The agreement targets 17 strategic oil fields expected to attract nearly $100 billion in private investment, aiming to revive Venezuela's deteriorated energy sector and secure additional crude for U.S. refineries while generating over $209 billion in tax revenue for Caracas.
- Secretary of State Marco Rubio called the deal 'a huge win for both the American and Venezuelan people,' while the administration claims the transaction will more than double U.S. oil reserves and substantially lower gas prices for Americans.
- Industry experts remain skeptical about immediate production gains due to Venezuela's dilapidated infrastructure and political uncertainty; Francisco Monaldi, director of the Latin American Energy Program at Rice University, warned that meaningful expansion will require years of significant capital investment.
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Trump's New Oil Deal With Venezuela Is Insane -- U.S. Now Controls 7.1% of Proven Global Reserves
Oil markets have spent 2026 wrestling with supply disruptions, Strategic Petroleum Reserve drawdowns to multi-decade lows, and stubborn pump prices that refuse to cooperate with political calendars. That makes President Trump’s new energy agreement with Venezuela genuinely good news for long-term American energy security. It hands U.S. interests majority control of more than 65 billion […]
Trump Seals The Biggest Oil Deal In World History — 65 Billion Barrels Of Venezuelan Crude, China Out, American Companies In - CDM - Human Reporters • Not Machines
Trump has officially announced U.S. majority control of more than 65 billion barrels of Venezuelan oil reserves — the largest energy deal in history. China is out, American companies are in, and Venezuela is considering leaving OPEC.
US to control 65 billion barrels of Venezuelan oil, Trump announces
US President Donald Trump on Friday said his administration has reached a major oil deal with Venezuela that gives the US majority control of 65 billion barrels of proven petroleum reserves. The deal — which Trump called “the biggest oil deal in world history” — would bring about US$100 billion in p
Trump Hails 'Historic' US Deal To Control 65bn Barrels of Venezuelan Oil
The US says it has struck a huge oil deal with Venezuela, giving Washington control over more than 65 billion barrels of the country’s proven reserves.President Donald Trump called the agreement “historic”. He claimed it would more than double US oil reserves, increase supply and help bring down petrol prices.But what exactly has Washington secured? Details remain limited.Secretary of State Marco Rubio described the deal as “a huge win” for both…
U.S. President Trump Announces Major Venezuela Oil Deal : The Tico Times | Costa Rica News
United States President Donald Trump announced on Friday an agreement guaranteeing the United States majority control over 65 billion barrels of Venezuela’s proven oil reserves. Described by Trump as the “largest oil deal in history,” it will bring Venezuela nearly $100 billion in private investment, according to U.S. Secretary of State Marco Rubio. Venezuela has the world’s largest proven oil reserves. The United States has exerted intense pres…
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