U.S. Secures Major Oil Deal with Venezuela

President Donald Trump announced that the United States has reached an agreement with Venezuela to control a substantial portion of the country’s oil reserves. This deal signifies a major shift in control over the country’s resources.

On Truth Social, Trump stated, “The U.S. has entered into an agreement with Venezuela on the biggest oil deal in world history.” He explained that this agreement involved Secretary of State Marco Rubio, Secretary of War Pete Hegseth, and Venezuela’s Interim President Delcy Rodriguez. The deal entails U.S. control over more than 65 billion barrels of proven oil reserves in Venezuela at no cost to American taxpayers.

According to Trump, this agreement more than doubles the U.S. oil reserves. Venezuela holds roughly 17% of the world’s supply with around 303 billion barrels of crude oil, based on data from the U.S. Energy Information Administration.

Venezuela’s oil reserves are largely known and mapped, though current production represents just 1% of global oil due to poor infrastructure.

Back in January, the U.S. military conducted an operation to capture Venezuela’s President Nicolás Maduro, who faces federal charges in the U.S. related to narcoterrorism and drug trafficking.

Amid mounting pressure as the midterm elections approach and gas prices surge due to conflict with Iran, this deal is a significant move. Secretary of State Marco Rubio called the deal a “huge win” for both nations. He stated, “It showcases President Trump’s bold foreign policy, securing reserves and lowering oil prices at home.” He also mentioned that the agreement would bring in $100 billion in private investment and support numerous high-paying jobs in Venezuela, aiding the country’s economic recovery.