Trump announces new US oil agreement with Venezuela
President Trump has announced a new agreement with Venezuela to secure majority control over 65 billion barrels of proven oil reserves. The deal, brokered by the Secretary of State and Defense Secretary, aims to boost US energy supplies and stabilize domestic gasoline prices.
Why it matters
This represents a significant shift in US-Venezuela relations and energy policy, potentially impacting global oil markets and domestic US fuel costs.
A Venezuelan flag in front of an oil tanker in Maracaibo, Venezuela, on 27 July. A Venezuelan flag in front of an oil tanker in Maracaibo, Venezuela, on 27 July. Donald Trump Trump announces new US oil agreement with Venezuela US president says US will have ‘majority’ control of 65bn barrels of proven oil reserves
Prefer the Guardian on Google Donald Trump announced Friday a new US oil agreement with Venezuela’s interim president Delcy Rodríguez, saying the US will have “majority” control of 65bn barrels of proven oil reserves.
The terms of the agreement remain to be seen, but the US president said on his social-media platform that it had been brokered “through a partnership with private business” by his secretary of state, Marco Rubio, and defense secretary, Pete Hegseth.
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