Venezuela says it retains control of oil under US deal

Venezuela's interim leader, Delcy Rodriguez, has assured citizens that the country retains control of its oil despite a new agreement with the US. The deal grants the US significant access to Venezuela's vast oil reserves, with the US gaining majority control of 65 billion barrels of proven reserves.

According to US President Donald Trump, the agreement is "the biggest oil deal in history" and will more than double American oil reserves, increasing the oil supply and lowering gas prices for Americans. Rodriguez, in a televised national address, said the deal will help revive the country.

The agreement was announced by Trump on Friday, with him claiming it was secured at no cost to the American taxpayer. Rodriguez emphasized that Venezuela retains ownership over its resources.

Brief written by urgent.news from Punch, Punch Nigeria, ABC News AU, The Age, The Sydney Morning Herald — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.