Trump Floats Idea of Keeping Oil in Iran After Midterms

President Trump has floated the idea of 'staying and keeping the oil' in Iran, drawing a comparison to the US's major oil deal with Venezuela. This comes as the conflict with Iran is expected to end after the midterm elections, according to Trump.

The president made these comments while in Doonbeg, Ireland, where he stated that the Iranian regime 'wants to make a deal so badly, and is calling constantly.' He added that the US could decide to stay and keep the oil, just as they did with Venezuela, which has a 25-year bilateral project to develop 17 strategic oilfields.

The deal with Venezuela was struck by the Trump administration, allowing the US to purchase 20% of the oil from North American Blue Energy Partners, a private company that is Venezuela's second-largest private oil producer. This oil can then be used to fill the US's Strategic Petroleum Reserve, which has been pulled from in recent years to tackle rising fuel prices.