Trump Announces U.S.-Venezuela Agreement for Control of 65 Billion Barrels of Oil Reserves
Quick Look
- President Donald Trump announced via social media that the United States has entered an agreement with Venezuela to take control of 65 billion barrels of the country's oil reserves, calling it the biggest oil deal in world history.
- The agreement was reportedly negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuela's interim President Delcy Rodriguez.
AI-generated summary
Why It Matters
The announcement comes amid ongoing political and economic crises in Venezuela, where oil production has declined significantly in recent years due to sanctions, mismanagement, and underinvestment.
WASHINGTON -- President Donald Trump on Friday said the U.S. has entered an agreement with Venezuela to take control of 65 billion barrels of the South American country’s oil reserves.
Trump in a social media post announced the agreement he said was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Venezuela’s interim President Delcy Rodriguez.
“The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” Trump wrote.
What to Watch
AI outlook — possibilities, not facts
The agreement will face legal challenges and international criticism
Likely · Within weeks
Global oil prices may experience downward pressure if the deal proceeds
Possible · Within months
Open Questions
- What are the specific terms of the agreement regarding control and revenue sharing?
- How will the international community, particularly OPEC and neighboring countries, respond to this deal?
- What legal basis exists for the U.S. to take control of another nation's oil reserves?
- Is Delcy Rodriguez recognized as Venezuela's legitimate interim president by the U.S. and other nations?
