Trump says U.S. has entered deal with Venezuela to take control of 65 billion barrels of oil reserves
President Trump announced a deal with Venezuela to develop 65 billion barrels of oil reserves, granting the U.S. a 55% stake in a new private company. The agreement aims to lower oil costs and involves significant long-term investment.
Why it matters
This deal marks a major shift in U.S.-Venezuela relations and global energy markets, potentially impacting long-term oil supply and geopolitical influence.
WASHINGTON (AP) — President Donald Trump said Friday that his administration has entered a sweeping agreement with Venezuela that, if realized, could give the U.S. access to vast amounts of the South American country's untapped oil reserves, at cost.
The article reports on the administration's claims while providing necessary context regarding the previous political situation in Venezuela.
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