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Commodities

Trump Secures Majority Control of Venezuela's Oil Reserves

Guavy AI Editorial Team
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Oil
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US President Donald Trump has announced a major deal that would give American companies majority control of Venezuela's oil reserves, valued at over $65 billion.

The agreement, which was negotiated by Secretary of State Marco Rubio and Secretary of War Pete Hegseth with Venezuelan Interim President Delcy Rodriguez, would allow US firms to access a group of Venezuelan oilfields and guarantee the resulting crude supply to the US.

Venezuela's interim president welcomed the deal, saying it would bring in nearly $209 billion to the state's treasury.

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