Trump said the US government has reached a deal to secure 65 billion barrels of oil reserves in Venezuela
Donald Trump claims the U.S. has secured a deal for majority control of 65 billion barrels of Venezuelan oil, though details remain unverified by the White House. The plan aims to revive Venezuela's energy sector, which has suffered from years of underinvestment and sanctions.
Why it matters
If true, this would represent a massive shift in global energy markets and U.S.-Venezuela relations, though the feasibility is questioned by experts.
Donald Trump says the US reached an agreement for control of over 65 billion barrels of Venezuelan oil. : Jose Bula Urrutia/UCG/Universal Images Group via Getty Images Trump says the US secured "majority control" of over 65 billion barrels of Venezuelan oil. The White House has not released the agreement or disclosed which private companies are involved. Reviving Venezuela's oil industry could be a costly and time-consuming process. Donald Trump said the US has secured majority control of more than 65 billion barrels of Venezuelan oil. In a post on Truth Social on Friday, Trump said the US has reached "THE BIGGEST OIL DEAL IN WORLD HISTORY" with interim Venezuelan President Delcy Rodríguez and private companies, and that the agreement would come "at no cost to the American Taxpayer." "This Historic Transaction MORE THAN DOUBLES American Oil Reserves," Trump wrote, adding that it would substantially lower gas prices.
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