Trump Announces ‘Historic’ Deal With Venezuela That ‘MORE THAN DOUBLES’ U.S. Oil Reserves

August 29, 2026 8:59 AM ET President Donald Trump announced an historic energy deal with Venezuela in a Truth Social post Friday night.The president called the deal “THE BIGGEST OIL DEAL IN WORLD HISTORY.” Trump wrote that the United States secured “majority U.S. control” of over 65 million barrels’ worth of Venezuelan oil reserves.Trump credited Secretary of State Marco Rubio, Secretary of War Pete Hegseth, Interim Venezuelan President Delcy Rodriguez and “a partnership with private business.”The president stated that the deal more than doubles American reserves and will “substantially lower Gas Prices for all Americans.” He added that the deal would strengthen the “already growing relationship” between the two countries. (RELATED: Trump Says Venezuela Turning Over Huge Stockpile Of Oil T