The US has struck a deal to control Venezuela’s oil reserves. It probably won’t help bring down fuel prices

Pedro Mattey/AFP via Getty Images US President Donald Trump has announced an agreement with Venezuela that he called the “biggest oil deal in world history”. The Trump administration says the agreement will double US oil reserves and lower fuel prices for all Americans. But questions remain about whether and when that

President Donald Trump says Venezuela has agreed to give the U.S. access to vast amounts of the South American country’s untapped oil reserves, at cost

President Donald Trump says Venezuela has agreed to give the U.S. access to vast amounts of the South American country’s untapped oil reserves, at cost

The federal government will hold a 55% stake in the company, consisting of equity ownership and oil production.

Acting President Delcy Rodríguez's government in a statement said the deal involves the development of 17 fields with a proven potential of 65 billion barrels.

The president said an agreement between the countries covered more than 65 billion barrels of reserves. A U.S. official said it would involve a partnership with a private company.

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

President Donald Trump on Friday announced an unprecedented US push ​to take control of a fifth of Venezuela's vast oil reserves, betting that American companies can revive the OPEC nation's battered energy industry while delivering a new source of crude to help bring down US fuel prices.

Trump hails 'historic' deal for US to take partial control of Venezuela's vast oil reserves  lbc.co.uk

Officials said the deal will bring nearly $100 billion in private investment to Venezuela.

President Donald Trump said Friday night the United States has reached an oil agreement with Venezuela, a move he said will “more than double” American oil reserves, increase oil supply and lower gas prices. “At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly

Trump has long been candid about his desire for the US to secure Venezuelan oil and has urged oil companies to invest in the South American nation.

WASHINGTON (AP) -- President Donald Trump on Friday said the U.S. has entered an agreement with Venezuela to take control of 65 billion barrels of the

The US has reached a deal with Venezuela to control more than 65 billion barrels of its proven oil reserves, President Donald Trump announced.

Venezuelan interim president says the unusual agreement will help revive her country's economy.

President Trump says his administration has entered a sweeping agreement with Venezuela that could give the U.S. access to vast amounts of the South American country's untapped oil reserves, at cost.

The president touts “the biggest oil deal in world history” six months on from the start of the Iran war, which sent energy prices spiralling.

The US president touts “the biggest oil deal in world history” six months on from the start of the Iran war, which sent energy prices spiralling.

President Donald Trump announced Friday that the U.S. had entered into an agreement with Venezuela to take control of the country’s 65 billion barrels of oil reserves.

Trump says Venezuela deal gives US control of 65 billion barrels of oil  USA Today

President Donald Trump on Friday said the US has entered an agreement with Venezuela to take control of 65 billion barrels of the South American country’s oil reserves. Trump in a social media post announced the agreement he said was negotiated by Secretary of State Marco Rubio, Defence Secretary Pete Hegseth and Venez

The announcement of the deal comes nearly nine months after the U.S. military at Trump's direction carried out an operation to capture Venezuela's president Nicolás Maduro and spirit him to the United States to face federal narcoterrorism and drug trafficking charges.

The announcement comes nearly nine months after the U.S. military at Trump’s direction carried out an operation to capture Venezuela’s president

Trump Says U.S. Has Entered Deal With Venezuela To Take Control Of 65 Billion Barrels Of Oil Reserves  HuffPost

Trump said the deal was negotiated by Secretary of State Marco Rubio, Defence Secretary Pete Hegseth and Venezuela's interim President Delcy Rodriguez. He announced the agreement in a social media post. The announcement comes almost nine months after the US military, acting on Trump's orders, carried out an operation t

Trump says US has entered deal with Venezuela to take control of 65 billion barrels of oil reserves  AP News

Trump says US has entered deal with Venezuela to take control of 65 billion barrels of oil reserves  Toronto Star

HOUSTON/WASHINGTON, Aug 27 - Trump administration officials are working on a deal to secure long-term access to a portion of Venezuela's crude reserves, sources with knowledge of the negotiations said on Thursday, a move that could ultimately lower the cost of oil imports.