Trump says US has reached deal with Venezuela on oil reserves
The Trump administration has announced a major agreement with Venezuela to develop oil fields, potentially granting the U.S. access to significant reserves. The deal involves a private partnership and aims to drive substantial investment into the Venezuelan oil sector.
Why it matters
This deal represents a major shift in U.S. energy policy and international relations with Venezuela, impacting global oil markets.
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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.
Trump in a social media post announcing the agreement said it was negotiated by Secretary of State Marco Rubio , Defense Secretary Pete Hegseth and Venezuela’s acting President Delcy Rodríguez.
“The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” Trump wrote.
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