U.S. Announces Deal to Secure Majority Control Over 65 Billion Barrels of Venezuelan Oil Reserves
The United States has reached a deal with Venezuela that grants the U.S. majority control over more than 65 billion barrels of oil reserves, according to an announcement by President Donald Trump late Friday. The agreement is expected to significantly boost U.S. energy security and potentially double its total oil reserves. Details on how the arrangement will be structured or executed were not immediately provided in the initial statement. However, such a move could have major implications for global oil markets, especially given Venezuela’s status as one of the world's largest holders of proven oil reserves despite ongoing economic turmoil within the country.
