President Donald Trump announced a deal with Venezuela that would grant the U.S. control of 65 billion barrels of proven oil reserves, describing it as the 'biggest oil deal in world history'.
The agreement, announced on Truth Social, involves Trump directing Secretary of State Marco Rubio and others to ensure no 'question marks' or hedging in the statement. The deal aims to revive Venezuela's energy industry and lower gas prices for Americans.
The transaction is part of efforts to secure U.S. interests in Venezuelan oil fields, with reports indicating that U.S. refineries are already processing half of Venezuela's oil output. The deal is expected to have significant market implications for both nations.