Trump announces new US oil agreement with Venezuela

US President Donald Trump announced a new oil agreement with Venezuela's interim president, though sources disagree on who that is - Delcy Rodríguez is named by The Guardian, while Jerusalem Post names "Highly Respected Interim President of Venezuela, Delcy Rodriguez". According to Trump, the US will have majority control of 65 billion barrels of proven oil reserves.

The agreement was brokered through a partnership with private business by his secretary of state, Marco Rubio, and defense secretary, though Jerusalem Post refers to him as "Secretary of War", Pete Hegseth.

The deal, described by Trump as having been secured at no cost to the American taxpayer, would more than double American oil reserves, according to Jerusalem Post. The US has been trying to secure a stable flow of Venezuelan crude for US refineries while promoting American investment into Venezuela's energy industry, which currently produces 1.25 million barrels per day of crude.

Some news outlets described the agreement as "the biggest oil deal in world history". The US is under pressure over rising gasoline prices, and is also looking to replenish its Strategic Petroleum Reserve.

Brief written by urgent.news from The Guardian, Jerusalem Post, The Age, The Sydney Morning Herald, BBC News — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.