Trump Announces Oil Deal With Venezuela, Securing Control Over Reserves

"65 Billion Barrels" Deal Announced
No Official Statement Yet from Venezuelan Government

U.S. President Donald Trump announced on the 28th (local time) that he had signed an oil deal with Venezuela involving 65 billion barrels of oil.

According to the Associated Press and other media, President Trump posted on Truth Social on this day, "The United States has just reached an agreement with Venezuela on the largest oil deal in world history."

Reuters Yonhap News

In his post, President Trump explained, "Secretary of State Marco Rubio and Secretary of War Pete Hegseth worked closely with Venezuela's respected interim president, Delcy Rodriguez, and through partnerships with private companies, have secured U.S. majority control over Venezuela's more than 65 billion barrels of proven oil reserves—without any burden on American taxpayers." This implies that an agreement has been reached between the Venezuelan government and U.S. oil companies regarding the rights to extract Venezuelan crude oil.

However, AP reported that the Venezuelan government has not issued any official statement regarding this matter.

Venezuela, once the leading anti-U.S. country in Latin America, holds the world's largest crude oil reserves. Since U.S. forces, under President Trump's directive in January, succeeded in a military operation to oust former President Nicolas Maduro, Venezuela has been cooperating with the Trump administration.

Attention is focused on whether the agreement announced by President Trump will lower global oil prices, which have surged due to the war in Iran, as well as energy prices within the United States. AP noted that, even after six months since the outbreak of the war in Iran, there is no sign of resolution, putting President Trump under pressure to address oil price issues.

President Trump stated on Truth Social, "This historic deal, which will more than double U.S. oil reserves, will significantly boost oil supply, drastically lower gasoline prices for all Americans for a long time to come, and help Venezuela embark on a path to tremendous success and great prosperity."

This content was produced with the assistance of AI translation services.