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

Venezuela's interim president Delcy Rodriguez has announced a new oil deal with the United States, allowing US companies to exploit Venezuela's massive oil reserves in exchange for $100 billion in private investment.

The deal, which President Donald Trump described as 'the biggest oil deal in world history,' gives the US majority control of 65 billion barrels of Venezuela's proven reserves.

Venezuelans are divided on the deal, with some expressing hope that it will bring economic recovery and others raising concerns about loss of sovereignty and meager benefits.

The deal aims to restore oil production in Venezuela to pre-2014 levels, which were three million barrels per day. Oil production has been struggling since then, reaching only 1.2 million barrels per day between January and July this year.