Trump announces deal with Venezuela to secure more than 65 billion barrels of oil reserves
The U.S. struck a deal with Venezuela to get majority control of more than 65 billion barrels of oil reserves, Trump said in a social media post.
The US has reached a deal with Venezuela to gain majority control of over 65 billion barrels of oil reserves, according to President Donald Trump. He announced the agreement on social media, describing it as the biggest oil deal in history.
Trump said the deal was worked out by Secretary of State Marco Rubio and Secretary of War Pete Hegseth, along with Venezuela's interim president, Delcy Rodriguez, and private businesses. He claimed the transaction would come at no cost to US taxpayers and would more than double American oil reserves, increasing the oil supply and lowering gas prices.
The details of the agreement, including the structure and private companies involved, were not provided by Trump. The announcement comes as global energy markets face supply disruptions and ahead of the US midterm elections, with gasoline prices and inflation among key issues.
Brief written by urgent.news from CNBC, CNBC World, Investing.com — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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