Trump hails major oil deal with Venezuela

U.S. President Donald Trump announced on Friday that the United States has reached a monumental deal to acquire control of Venezuela's substantial oil reserves. According to Trump, the agreement was brokered by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuelan interim President Delcy Rodriguez. He emphasized the deal's unprecedented scale, declaring it the "BIGGEST OIL DEAL IN WORLD HISTORY!" on his Truth Social platform. Trump assured that the agreement would be free of cost to the American taxpayer.

Rubio revealed that the deal would bring about $100 billion (€86 billion) of private investment into Venezuela. He praised the agreement, stating that it is a substantial victory for both the American and Venezuelan populations. The arrangement is anticipated to more than double the U.S. oil reserves. Despite possessing the world's largest proven oil reserves, amounting to 303 billion barrels, Venezuela's oil production has historically lagged behind other major oil-producing nations due to persistent mismanagement, deteriorating infrastructure, and sanctions.