US Eyes Stake in Venezuela Oil Reserves Amid Rising Gas Prices

The Trump administration is discussing a deal to secure long-term access to Venezuela's crude reserves. According to sources, the agreement would allow American companies to develop a group of Venezuelan oilfields and guarantee a supply of oil for the US.

The proposed deal involves locking in 17 fields, including green fields in the Orinoco Belt and mature areas in Lake Maracaibo. These fields are currently operated by a small Chinese firm whose contract was signed during Maduro's administration.

Venezuela is considering leaving OPEC as it strengthens ties with the US. The country has not met OPEC quotas for years, and its state-run oil industry has suffered from neglect and corruption.