US President Donald Trump announced a new oil agreement with Venezuela, securing majority control of 65 billion barrels of proven reserves. The deal aims to double American oil reserves and highlights a strategic partnership with private business.
The agreement was brokered by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth. Trump stated it was secured at no cost to American taxpayers, with details yet to be finalized. The terms emphasize U.S. dominance in Venezuelan oil reserves.
The deal underscores a shift in U.S. energy strategy, prioritizing control over Venezuelan reserves. It signals a potential boost in domestic oil production and reinforces U.S. influence in South American energy markets.