Trump announces deal with Venezuela to secure more than 65 billion barrels of oil reserves
Trump said the agreement would more than double U.S. oil reserves and bring nearly $100 billion in private investment to Venezuela, officials said.
- On Friday, President Donald Trump announced an oil agreement with Venezuela, securing majority U.S. control of more than 65 BILLION BARRELS of proven oil reserves at no cost to American taxpayers.
- Washington has sought stable crude supplies since removing former President Nicolas Maduro in January, aiming to replenish the Strategic Petroleum Reserve and promote investment in the OPEC nation's deteriorated energy sector.
- Secretary of State Marco Rubio and Secretary of War Pete Hegseth negotiated the deal alongside Interim President Delcy Rodriguez, with Trump claiming they secured "majority U.S. control of more than 65 BILLION BARRELS."
- Facing pressure ahead of midterm elections scheduled later this year, the administration hopes to ease rising gasoline prices through cheaper oil supplies and expanded Venezuelan output.
- Venezuela's energy industry currently produces 1.25 million barrels per day; the agreement aims to revitalize this deteriorated sector while integrating it into broader American energy strategy.
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Donald Trump secures 'biggest oil deal in world history' with Venezuela to slash fuel prices for millions of Americans
Donald Trump has declared that the US has struck the "biggest oil deal in world history" with Venezuela as he vowed the agreement would slash fuel prices for Americans.The US President said the agreement would give America access to more than 65 billion barrels of proven Venezuelan crude reserves.Mr Trump announced the deal on his Truth Social platform on Friday evening, claiming it would "more than double" American oil reserves.He credited Secr…
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EADaily, August 29, 2026 – Venezuela's oil deal with the United States will bring the South American population nearly $100 billion, announced the United States Secretary of State Marco Rubio on social media X. This is an agreement that will bring over 65 billion barrels of Venezuela's oil reserves under American control.
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