Trump Secures Control of 65 Billion Barrels of Oil Reserves in Venezuela

US President Donald Trump has secured control of 65 billion barrels of oil reserves in Venezuela through a deal, which is set to increase American refineries' readiness for production. The development comes as Venezuelan oil production increases.

The agreement will give the US access to a significant portion of the world's oil reserves, potentially altering the global energy landscape. As Trump touts the deal, he emphasizes its economic implications and the impact on Iran's economy, stating that the US is 'crushing' Iran's ability to fund the IRGC.

Despite the potential benefits, some experts caution against overestimating the significance of the deal, highlighting the complexities of oil production and the need for infrastructure investments. The Venezuelan oil industry has faced significant challenges in recent years, including low investment and declining production levels.