Trump Announces ‘Largest Oil Deal in History’ with Venezuela
WASHINGTON:US President Donald Trump has announced that the United States has reached what he described as the “largest oil deal in the history of the world” with Venezuela.
In a statement posted on his social media platform, Truth Social, Trump said that, on his instructions, Secretary of State Marco Rubio and Secretary of War Pete Hegseth reached the agreement with Venezuela’s interim President Delcy Rodríguez, with participation from the private sector.
Trump claimed that under the agreement, the United States had secured majority control over Venezuela’s proven oil reserves of more than 65 billion barrels.
He said the historic deal would more than double US oil reserves, significantly increase oil supplies and eventually lead to a substantial reduction in gasoline prices for American consumers.
Trump further said the agreement would help Venezuela achieve a major economic breakthrough and move toward prosperity, while also strengthening the improving relationship between the United States and Venezuela.
The announcement marks a potentially significant development in US-Venezuela energy relations, with the deal expected to have implications for oil supplies, investment and energy markets.
