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Trump Announces ‘World’s Biggest Oil Deal’ With Venezuela (Img: X)
New Delhi: US President Donald Trump has announced what he described as the “biggest oil deal in world history” with Venezuela, claiming the agreement will give Washington control over 65 billion barrels of crude oil reserves.
The announcement was made through Trump’s social media platform Truth Social, where he said the deal would significantly increase America’s energy reserves and help reduce fuel prices for consumers.
Trump said the agreement would “more than double” American oil reserves and strengthen energy cooperation between the two countries. He added that the deal would increase oil supply and support Venezuela’s economic recovery.
According to Trump, US Secretary of State Marco Rubio and Secretary of War Pete Hegseth are working with Venezuelan President Delcy Rodriguez on the implementation of the agreement.
Venezuela is home to some of the biggest crude oil reserves globally. Data from the US Energy Information Administration estimates that the country has nearly 303 billion barrels of proven oil reserves, accounting for a significant share of the world’s total supply.
Despite its massive reserves, Venezuela’s oil production has remained low due to ageing infrastructure, economic challenges and years of underinvestment.
Reports suggest that the agreement may allow private American energy companies to invest in Venezuelan oil fields in exchange for ownership stakes. The move is part of Washington’s broader push to increase global energy supply.
However, the Venezuelan government has not yet released full details of the agreement.
US officials said the deal could attract close to $100 billion in private investment, create thousands of jobs and help rebuild Venezuela’s struggling economy.
The agreement is expected to have major implications for global oil markets, US energy policy and Venezuela’s future economic direction.
