Trump Announces Major Venezuelan Oil Deal, Claims Historic Expansion of U.S. Reserves
President Donald Trump and Secretary of State Marco Rubio have announced what Trump described as the largest oil transaction in world history, involving Venezuela’s vast proven petroleum reserves.
According to the administration, the United States has secured majority control of more than 65 billion barrels of proven Venezuelan oil reserves without direct costs to American taxpayers. Trump said the agreement would more than double U.S. oil reserves, increase domestic supply and help reduce gasoline prices for Americans.
“This Historic Transaction MORE THAN DOUBLES American Oil Reserves,” Trump said, emphasizing the potential impact on U.S. energy security.
Rubio called the agreement a major benefit for both the American and Venezuelan people, saying it would help secure stable energy supplies and lower-cost oil in the Western Hemisphere while supporting lower prices in the United States.
Venezuela’s interim president, Delcy Rodríguez, reportedly described the agreement as historic. Rubio said the arrangement could generate nearly $100 billion in private investment and create new jobs.
A U.S. official said American oil obtained at cost would be directed toward replenishing the Strategic Petroleum Reserve and supporting military needs.
The announcement represents a potentially significant shift in U.S.-Venezuela energy relations, although the agreement’s final terms and implementation remain subject to further details.
