Trump's Venezuela Oil Deal Promises Lower Gas Prices But Experts Remain Skeptical

US President Donald Trump has announced a historic oil deal with Venezuela, which he claims will substantially lower gas prices for Americans. The agreement gives the US majority control of over 65 billion barrels of proven oil reserves in Venezuela at no cost to taxpayers.

The deal, which was negotiated by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, includes an investment of more than $100 billion and calls for the development of 17 strategic fields.

However, experts do not expect an immediate drop in gas prices as a result of the agreement. Patrick De Haan, GasBuddy's head of petroleum analysis, said that it will take billions of dollars to build up Venezuela's infrastructure and that drilling and pumping oil will take 'a very long time.'

Oil executives have previously been hesitant to invest in the region due to its historical riskiness, but Trump administration officials claim that US involvement will bring stability.

The deal is seen as a turnaround for the bilateral relationship between the US and Venezuela, which was strained after Trump ordered the overnight capture of former leader Nicolás Maduro on narcoterrorism and drug trafficking charges last year.