Trump claims US will take control of 65bn barrels of Venezuelan oil
US President Donald Trump has said Washington is making an unprecedented push to take control of about a fifth of Venezuela's vast oil reserves, claiming it will provide relief to Americans' pain amid soaring energy prices. The “biggest oil deal in world history” would give the US control over more than 65 billion barrels of crude, Mr Trump said in a post on his Truth Social platform on Friday.…
President Donald Trump has announced an ambitious plan to take control of approximately 65 billion barrels of Venezuela's oil reserves, describing it as the "biggest oil deal in world history." The move aims to alleviate Americans' suffering from soaring energy prices and benefit the US economy in the long run. According to Trump, the deal would be coordinated by Secretary of State Marco Rubio, Secretary of Defence Pete Hegseth, and Venezuela's interim President Delcy Rodriguez through a partnership with private businesses.
The exact details of the agreement, such as the specific oilfields and companies involved, remain undisclosed. Trump asserts that the deal will significantly increase American oil reserves, boost oil supply, and potentially lower gas prices, providing relief to consumers. The US and Venezuela have not released any official statements regarding the announcement.
With a proven oil reserve of over 303 billion barrels, Venezuela holds the world's largest crude oil reserves, accounting for around 17% of global supply.
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Also reported by 1 other outlet
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