How will Trump's oil deal with Venezuela work?

US President Donald Trump has announced a monumental oil deal with Venezuela, granting the United States access to the South American nation's vast oil reserves. Acting President Delcy Rodríguez emphasized that the deal will help revive Venezuela's economy while preserving its sovereignty over its natural resources. The agreement, described as the "biggest oil deal in world history," will grant the U.S. majority control of over 65 billion barrels of proven oil reserves in Venezuela, at no cost to American taxpayers.

This historic transaction is set to more than double American oil reserves and significantly increase the country's oil supply, potentially driving down gas prices for Americans in the long term. The deal, which is a 25-year bilateral project involving the development of 17 strategic oilfields, could generate approximately $209 billion in revenue for Venezuela based on a benchmark oil price of $65 per barrel.

While both sides have remained tight-lipped about the specifics of infrastructure investments and the identity of the private operator involved, experts acknowledge that the deal could take many years to fully materialize and that the oil industry is eagerly awaiting further clarity on the agreement's details.