Venezuela says Trump's historic oil deal targets 1.5M barrels per day, could generate $200B - Fox Business
The Trump administration has finalized a 25-year oil agreement with Venezuela, targeting production of 1.5 million barrels per day. Officials claim the deal will secure U.S. energy reserves and lower domestic gas prices.
Why it matters
This deal represents a major shift in U.S.-Venezuela relations and has significant implications for global energy markets and U.S. domestic inflation.
Venezuelan interim President Delcy Rodriguez on Saturday touted a "historic" oil agreement with the United States announced by President Donald Trump. Speaking during an evening address, Rodriguez celebrated the agreement, saying it would help revive Venezuela's economy. She said the deal would remain in effect for 25 years and initially target crude production of more than 1.5 million barrels per day while preserving the South American country's sovereignty over its natural resources. "This 25-year bilateral project envisages the development of 17 strategic oilfields with a production target of more than 1.5 million barrels per day," Rodriguez said on state broadcaster VTV. "That figure relates solely to the bilateral agreement between Venezuela and the United States," she added. TRUMP ANNOUNCES ‘BIGGEST OIL DEAL IN WORLD HISTORY,’ SAYS IT WILL SUBSTANTIALLY LOWER GAS PRICES Rodriguez's comments came after Trump announced the agreement on Truth Social on Friday, saying the U.S.
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