Commodities
Trump Announces Venezuela Oil Deal Amid Rising Tensions
A deal between the US and Venezuela has been announced by President Trump, which he claims will secure majority U.S. control of over 65 billion barrels of proven oil reserves in Venezuela at no cost to the American taxpayer.
The agreement provides the US government with a 55% stake in a joint venture with an unnamed private operator in Venezuela, according to a U.S. official quoted by CBS News.
However, experts have expressed skepticism about the deal's immediate impact, saying it will likely take months or years for new supplies to come online.