Trump announces US-Venezuela oil deal for control of 65 billion barrels
On Friday, President Donald Trump announced a deal with Venezuela's interim president Delcy Rodríguez to secure majority U.S. control of over 65 billion barrels of proven oil reserves. Trump stated the agreement, brokered by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth with private business partners, would more than double American oil reserves and lower gas prices for Americans, at no cost to taxpayers. Few specifics were provided regarding the structure, fields, or companies involved. Venezuela's interim president said the deal would bring $100 billion in private investment and $209 billion in taxes. The announcement follows the U.S. capture of former president Nicolás Maduro and occurs amid pressure on gasoline prices and strained oil supplies due to the Iran conflict.
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