Historic Oil Agreement Secures U.S. Majority Control Over Venezuelan Reserves

President Donald Trump announced a monumental oil deal, declaring it the “biggest oil deal in world history.” The United States has obtained majority control over more than 65 billion barrels of proven oil reserves in Venezuela, thanks to an agreement involving the Venezuelan government and private-sector partners.

In a Friday post on Truth Social, Trump stated that the deal would not incur any costs for American taxpayers. He emphasized that the agreement would more than double U.S. oil reserves and contribute to a decrease in gasoline prices.

Trump credited Secretary of State Marco Rubio and Defense Secretary Pete Hegseth as key figures in negotiating the deal. The negotiations were conducted with Venezuelan interim President Delcy Rodríguez, described as a step toward strengthening U.S.-Venezuela relations.

“This deal is a huge win for both the American and Venezuelan people,” Rubio commented on X. He praised President Trump’s assertive foreign policy for achieving “America First wins,” ensuring stable reserves, and reducing oil costs in the hemisphere.

For Venezuela, the deal promises nearly $100 billion in private investment and the creation of thousands of high-paying jobs, substantially aiding the country’s economic reconstruction.

Trump’s full statement underscored the historic nature of the agreement, noting the significant increase in American oil reserves and the expected long-term reduction in gas prices. He highlighted the role of Venezuelan partners in paving the way for prosperity and strengthening international relations.

The transaction marks a critical step forward for both nations, offering the potential for economic growth and cooperation. Newsweek reached out to the State Department seeking further details regarding the transaction.