Trump announces record-breaking oil deal with Venezuela to double US reserves and slash gas prices

The President has sought American control over the South American nation's reserves since it deposed dictator Nicolas Maduro earlier this year in Operation Absolute Resolve.

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 United States has struck a deal with Venezuela to secure "majority US control" of more than 65 billion barrels of Venezuelan oil, according to Donald Trump.

President Trump announced a deal to grant the U.S. control of more than 60 billion barrels of proven Venezuelan oil reserves.

The agreement would grant the US majority control of over 65 billion barrels of proven Venezuelan oil reserves, Trump said.

The president said an agreement between the countries involved “a partnership with private business” and more than 65 billion barrels of reserves.

U.S. President Donald Trump on Friday said the U.S. had entered into an oil agreement with Venezuela.

U.S. to Take Control of Much of Venezuela’s Proven Oil Reserves  WSJ

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.

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 Trump said Friday evening that there will be “majority U.S. control” of a large swath of Venezuela’s oil reserves.  “BREAKING NEWS: The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” Trump wrote in a post on Truth Social. 

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

Donald Trump says the US reached an agreement for control of over 65 billion barrels of Venezuelan oil. : Jose Bula Urrutia/UCG/Universal Images Group via Getty Images Trump says the US secured "majority control" of over 65 billion barrels of Venezuelan oil. The White House has not released the agreement or disclosed

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

U.S. President Donald Trump on Friday said the U.S. has entered an agreement with Venezuela to take control of 65 billion barrels of the South American country's oil reserves.

Venezuela has one of the largest oil reserves in the world, with an estimated 303 billion barrels of crude oil in the ground.

Trump announces sweeping US grab for control of Venezuela's vast oil reserves  Reuters

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

The president says the agreement with Venezuela that will allow the US to “more than double” its existing oil reserves.

President Donald Trump announced on Friday that he struck a historic oil deal with Venezuela, after wresting power from former Venezuelan dictator Nicolas Maduro in January. The president said the United States has established “majority” control over more than 65 billion barrels of oil in Venezuela, “at no cost to the

Trump says US reaches deal with Venezuela to control 65 billion barrels of country’s oil reserves  CNN

US President Donald Trump speaks in the Rose Garden of the White House in Washington, DC, on Aug. 24, 2026. Jim Watson | AFP | Getty ImagesThe U.S. struck a deal with Venezuela to get majority control of more than 65 billion barrels of oil reserves as the war with Iran roils the global crude trade, President Donald Tru

President Donald Trump says the U.S. has entered an agreement with Venezuela to take control of 65 billion barrels of the South American country’s oil reserves

President Donald Trump says the U.S. has entered an agreement with Venezuela to take control of 65 billion barrels of the South American country’s oil reserves

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

Secretary of State Marco Rubio said the deal would bring nearly $100 billion in private investment to Venezuela.