Trump announces deal for huge US stake in Venezuelan oil reserves

The deal -- which Trump proclaimed as "the biggest oil deal in world history" -- will bring nearly $100 billion in private investment to Venezuela, US and Venezuelan officials said.

The deal -- which Trump proclaimed as "the biggest oil deal in world history" -- will bring nearly $100 billion in private investment to Venezuela, US and Venezuelan officials said.

Venezuela agrees major oil deal with the United States, giving Washington majority control of 65 billion barrels of proven petroleum reserves; Trump and Rodríguez hail "historic" agreement, saying it will benefit both nations. Leer más

US President Donald Trump announced an unprecedented US push to take control of a fifth of Venezuela's vast oil reserves, delivering a new source of crude oil to help bring down US fuel prices.

The sweeping deal would dramatically expand U.S. access to one of the world’s largest petroleum supplies.

In a Truth Social post, Trump called this 'the biggest oil deal in world history' and said it will more than double US oil reserves.

Venezuela confirmed the 'historic' agreement shortly after the US president's announcement.