Trump Secures Majority Control of Venezuelan Oil Reserves in New Deal

President Trump announced a significant "historic" oil agreement with Venezuela, granting the United States majority control over more than 65 billion barrels of proven oil reserves. The deal, brokered through a partnership with private businesses, was facilitated by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth.

While the specific terms of the agreement have not been fully disclosed, the announcement marks a substantial development in U.S.-Venezuelan relations and the global energy market. This move could reshape energy dynamics and potentially influence international oil prices, given the vastness of the reserves involved. The administration has emphasized the private sector's role in securing this majority stake in Venezuela's substantial oil wealth.