Trump Claims US Secures Majority Control Over Venezuela's Massive Oil Reserves

US President Donald Trump announced an agreement with Venezuela that would give the US majority control over more than 65 billion barrels of oil reserves, a deal he called 'the largest oil deal in the history of the world.'

The agreement was reached after the US attack on Venezuela in January and is seen as a way to strengthen ties between the two countries.

According to Trump, the deal would more than double the US oil reserves and would not burden American taxpayers.

The announcement comes as US consumers face a spike in energy prices ahead of the midterm elections. Trump said the deal with Venezuela should help bring down gas prices, which have reached $4.09 per gallon on average, up 27 percent from last year.