WASHINGTON, D.C. — U.S. President Donald Trump has announced what he described as the “biggest oil deal in world history”, claiming that the United States has secured majority control of more than 65 billion barrels of proven oil reserves in Venezuela through an agreement involving the two countries and private businesses.
In a statement, Trump said he had directed U.S. Secretary of State Marco Rubio and Secretary of War Pete Hegseth to work with Venezuela’s interim President, Delcy Rodríguez, on the arrangement.
According to Trump, the deal was secured “at no cost to the American taxpayer” and would more than double U.S. oil reserves while significantly increasing the country’s oil supply.
The president further claimed that the agreement would help drive down gasoline prices for American consumers over the long term, while strengthening economic and diplomatic ties between Washington and Caracas.
Trump described the development as a historic transaction that would also support Venezuela’s economic recovery and put the country on a path toward what he called “tremendous success and great prosperity.”
The announcement comes amid renewed efforts to reshape relations between the United States and Venezuela, particularly around the South American nation’s vast oil resources.
Trump concluded the announcement by thanking the public for its attention to what he called a “groundbreaking matter”, adding his signature political slogan: “Make America Great Again.”
The details of the reported agreement, including the structure of U.S. control, the role of private companies, and the financial and legal terms of the transaction, were not provided in the statement.
