Trump says U.S. now has control over 65 billion barrels of Venezuelan oil reserves

President Trump announced a significant deal on Friday, granting the United States majority control of over 65 billion barrels of Venezuela's proven oil reserves. This arrangement is part of the administration's strategy to encourage oil companies to return to the country following a U.S. military operation that replaced Venezuela's leadership earlier this year.

The details of the deal, such as which oil fields are involved and which entities will handle drilling, have not yet been disclosed by the administration. Trump emphasized that the deal was made without any cost to American taxpayers and was reached through a partnership with private businesses. He stated that this transaction more than doubles American oil reserves, significantly increases the country's oil supply, and promises to lower gas prices for all Americans in the long run.

This move also aims to support Venezuela's journey towards great prosperity. According to Secretary of State Marco Rubio, the deal is expected to bring in nearly $100 billion in private investment, create thousands of high-paying jobs, and help reconstruct Venezuela's economy. Venezuela is estimated to have over 300 billion barrels of proven oil reserves. This is a rapidly developing story, and updates are expected.