'Biggest deal in world history': Trump says US secured 65 billion barrels of Venezuelan oil

The United States and Venezuela have reached a historic agreement to control over 65 billion barrels of Venezuela's proven oil reserves, according to President Donald Trump. This significant transaction more than doubles America's oil reserves and will greatly increase the nation's oil supply, potentially lowering gas prices for all Americans, Trump claimed on social media.

Following the arrest of Venezuela's former President Nicolás Maduro earlier this year, Trump had vowed to tap the country's vast reserves, the world's largest. The agreement has been hailed as a major win for both American and Venezuelan people by Secretary of State Marco Rubio. Details of the deal have not been disclosed, but Venezuelan interim President Delcy Rodriguez confirmed that the deal would bring nearly $100 billion in private investment, create thousands of high-paying jobs, and help reconstruct Venezuela's economy.

At no cost to the American taxpayer, the agreement was reached through a partnership between private businesses, involving US Secretary of State Mike Pompeo and Defense Secretary Pete Hegseth, Trump stated. In January, Maduro and his wife were apprehended in a military operation authorized by Trump, and the administration claimed it would manage Venezuela's oil sales until a safe and proper transition took place.

Venezuela possesses the world's largest proven oil reserves, estimated at 303 billion barrels, although production has significantly declined since its peak in the late 1990s. Trump has urged US oil companies to invest at least $100 billion to revive the country's oil industry and has asserted ownership of Venezuela's oil following allegations of the nation's past unilateral seizure and sale of American oil, assets, and platforms, costing the US billions.