U.S. Secures Control Over Venezuela’s Oil Reserves

President Donald Trump announced that the United States has entered into a historic agreement with Venezuela to take control of the country’s significant oil reserves. Trump shared the news on Truth Social, stating, “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!”

In the announcement, Trump credited Secretary of State Marco Rubio and Secretary of War Pete Hegseth for their collaboration with Venezuela’s Interim President Delcy Rodriguez. The partnership, involving private businesses, has led to the U.S. securing control over more than 65 billion barrels of proven oil reserves, without cost to American taxpayers. Trump also noted that this transaction significantly increases U.S. oil reserves.

Venezuela’s oil reserves are among the largest globally, accounting for roughly 17% of the world’s supply. According to the U.S. Energy Information Administration, Venezuela holds an estimated 303 billion barrels of crude oil, although the country’s production is limited to about 1% of the world’s oil due to outdated infrastructure.

“It demonstrates how President Trump’s bold foreign policy is driving America First wins,” Rubio wrote on X, highlighting the stability in reserves and reduced oil prices as benefits for the U.S.

Secretary of State Marco Rubio described the deal as a “huge win” for both nations. The agreement is expected to bring nearly $100 billion in private investment to Venezuela, enhance job growth, and aid in the economic reconstruction of the country.

The announcement follows a U.S. military operation in January aimed at capturing Venezuela’s President Nicolás Maduro to face charges in the United States related to narcoterrorism and drug trafficking. Meanwhile, President Trump faces increased political pressure with the upcoming midterm elections and rising gas prices linked to the ongoing conflict with Iran initiated six months ago by the U.S. and Israel.