US Secures Control of Venezuela's Oil Reserves in $100 Billion Deal

US President Donald Trump announced on Friday that his administration has reached an agreement with Venezuela to take control of over 65 billion barrels of the country's proven oil reserves. The deal, negotiated by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, marks a significant partnership between the US and private business.

The Venezuelan government's press office did not immediately respond to a request for comment on the agreement. Trump described it as 'the biggest oil deal in world history', which would bring in $100 billion in private investment into Venezuela.

Rubio stated on X that this deal is a huge win for both the American and Venezuelan people, citing lower gas prices in the US as a result. The average price of gas in the US stood at around $4.09 per gallon on Friday, according to AAA.