Trump Secures Control Over Billions of Venezuelan Oil Reserves

US President Donald Trump has announced an agreement to secure majority control over more than 65 billion barrels of Venezuela's proven oil reserves. The deal, which involves private companies and a partnership with Venezuela's interim government, could attract nearly $100 billion in investment.

Venezuela currently produces only about 1.25 million barrels per day, far below its historical output and immense geological potential. The country has the world's largest proven oil reserves but requires significant investment to revive its production capacity.

The Trump administration believes American companies can help rebuild Venezuela's badly damaged energy industry, increase heavy crude supply to US refineries, and place downward pressure on gasoline prices. However, industry analysts caution that it is impossible to determine the agreement's commercial viability without more information about its legal foundation, ownership structure, and financial terms.