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

US President Donald Trump announced a major deal with Venezuela to secure control of over 65 billion barrels of proven oil reserves. This historic transaction, according to Trump, more than doubles American oil reserves and will lower gas prices for all Americans.

The agreement, which was reached after weeks of negotiations, grants US companies long-term access to Venezuelan oilfields and guarantees the resulting crude supply to the US. Venezuela's interim President Delcy Rodriguez welcomed the deal, saying it would bring nearly $209bn to the state's treasury.

US Secretary of State Marco Rubio described the agreement as a win for both countries, stating that it would secure stable, low-cost oil for the US and help lower petrol prices. For Venezuela, Rubio said the deal would bring nearly $100bn in private investment, support thousands of high-paying jobs, and help rebuild the country's economy.

The new deal represents a significant expansion of Washington's role in Venezuela's oil industry, with Trump stating that American companies will have majority control over more than 65 billion barrels of proven oil reserves at no cost to the US taxpayer.