US President Donald Trump has announced that the United States has entered into an agreement with Venezuela that he described as the “biggest oil deal in world history.”
Trump said the agreement gives the US majority control of more than 65 billion barrels of proven oil reserves in Venezuela, at no cost to American taxpayers. He said the deal was secured under the direction of Secretary of State Marco Rubio and Secretary of War Pete Hegseth, working with Venezuela’s interim President Delcy Rodríguez and private businesses.
According to Trump, the agreement will more than double America’s oil reserves, increase the country’s oil supply and substantially lower gasoline prices for Americans in the years ahead. He also said the deal would help put Venezuela on a path toward greater economic success and prosperity.
Trump said the transaction would further strengthen the growing relationship between the United States and Venezuela, describing the agreement as a historic development for both countries.
