Trump Reveals Major Oil Deal with Venezuela
U.S. President Donald Trump announced that the United States has signed a historic oil agreement with Venezuela, the largest in history, granting the U.S. control over more than 65 billion barrels of Venezuela's proven oil reserves. This deal, initiated under Trump's direction and through efforts by Secretary of State Marco Rubio, comes as part of efforts to boost American energy supplies and reduce fuel prices, at no cost to taxpayers. The administration expects this agreement to increase U.S. control over oil reserves, support the Venezuelan economy through investments exceeding $100 billion, and bring economic and strategic benefits, while also improving the relationship between Washington and Caracas. Venezuela remains one of the world’s largest holders of oil reserves, though production has remained limited due to infrastructure deterioration.
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