US-Venezuela Oil Deal Benefits
The Financial Times reported that the United States has benefited from the oil deal signed with Venezuela, gaining 55% of the actual production from a 100-year joint oil project that holds reserves estimated at 65 billion barrels of oil. The agreement aims to control about 20% of Venezuela's oil reserves, thereby boosting U.S. crude supplies and reducing gasoline prices, in addition to supporting Venezuela’s economy and investment flows. The deal has attracted engagement from major international companies and represents a step toward reviving the country's oil sector, despite potential legal and constitutional challenges regarding control and management.
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