Venezuela needs the money and the US needs the oil
President Trump has announced a deal to gain control of 65 billion barrels of Venezuelan oil, aiming to increase US supply and lower gas prices. While the deal promises significant economic benefits for both nations, details remain scarce and the political situation in Venezuela is volatile.
Why it matters
This deal represents a major shift in US energy policy and international relations, potentially impacting global oil markets and the political stability of Venezuela.
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Share A A A Washington: As far as announcements go, it was pretty low-key. Word came from US President Donald Trump’s Truth Social account just before 7pm on Friday, a time slot typically reserved for bad news you want to bury.
Instead, Trump unveiled an unprecedented deal for the US to take control of 65 billion barrels of Venezuelan oil, in what he billed as the largest such agreement in world history.
Donald Trump has his sights set on unlocking Venezuela’s oil. Marija Ercegovac “This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity,” he said.
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