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The United States announced an agreement with Venezuela that grants it control over more than 65 billion barrels of proven oil reserves, describing the deal as "the largest oil deal in history." The agreement involves private companies and was negotiated by both the U.S. and Venezuelan governments, aiming to secure stable oil reserves and reduce fuel prices in the United States. Despite the vast reserves, Venezuela's production remains limited to about 1% of the global output due to the deterioration of its infrastructure. This deal seeks to bolster Washington's geopolitical interests and reduce Chinese influence in the region. It faces criticism from Venezuelan opponents who consider it illegitimate and a violation of the constitution.
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