US Seizes Control Over Venezuela's Oil Reserves, Gains Global Leverage

The United States has gained significant leverage over the global oil market with its agreement to control more than 65 billion barrels of proven oil reserves in Venezuela.

This deal, announced by U.S. President Donald Trump, gives the U.S. majority control over these resources and allows it to influence crude oil supply volumes beyond its own borders.

The agreement is particularly significant given the ongoing war in Ukraine and the escalation surrounding Iran, which have increased uncertainty in energy markets and made prices more sensitive to potential changes in supply volumes.

Venezuela holds around 303 billion barrels of proven oil reserves, with this deal giving the U.S. control over more than one-fifth of these resources.