President Donald Trump says the United States has reached a landmark agreement with Venezuela that gives the U.S. majority control over more than 65 BILLION barrels of proven oil reserves.
Trump called it:
âTHE BIGGEST OIL DEAL IN WORLD HISTORY.â
The agreement was reportedly negotiated by Secretary of State Marco Rubio, Secretary of War Pete Hegseth and Venezuelaâs interim president Delcy RodrĂguez, alongside private-sector partners.
Trump says the deal will:
đąïž Increase U.S. oil supply
✠Help lower gasoline prices
đșđž More than double U.S. oil reserves
đ° Come at no cost to American taxpayers
đ»đȘ Help rebuild Venezuela's energy industry
Venezuela has the world's largest proven oil reserves, but years of underinvestment, sanctions and damaged infrastructure have left production far below its potential.
There is, however, an important detail:
The full structure of the agreement has not yet been disclosed.
It remains unclear exactly which oil fields are covered, which private companies will participate and how the U.S. will exercise majority control.
Trump's announcement comes at a particularly important time for global energy markets, with the ongoing Iran conflict putting additional pressure on oil supplies.
If Venezuela's production can eventually be restored at scale, this could have major consequences for global oil prices, U.S. energy security and Venezuela's economy.
But there's a catch:
Getting billions of barrels out of the ground is not the same as having billions of barrels immediately available.
Infrastructure, investment, production capacity and legal questions could determine how quickly the deal actually affects global supply.
One thing is certain: Washington just made a huge move in the global energy game. đ
đ Do you think this deal will actually bring down U.S. gas prices?
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