Trump Claims US Secures Majority Control of 65 Billion Barrels of Venezuelan Oil

US President Donald Trump has claimed that his administration, acting on his direction, reached a deal giving the United States majority control over more than 65 billion barrels of proven oil reserves in Venezuela. In a post on Truth Social, Trump described the agreement as the “biggest oil deal in world history,” saying it would more than double US oil reserves and substantially lower gasoline prices for American consumers.

Trump said Secretary of State Marco Rubio and Secretary of War Pete Hegseth negotiated the arrangement in coordination with Venezuela’s interim President Delcy Rodriguez and private companies. He claimed the agreement came at “no cost to the American Taxpayer,” while Rodriguez confirmed the oil deal and said it could generate billions of dollars for Venezuela’s state coffers.

The agreement comes amid sweeping changes in Venezuela following the US seizure of President Nicolas Maduro earlier this year. Rodriguez has since moved to accommodate a number of Trump administration demands, including opening the Venezuelan economy further to US companies and implementing political reforms. Critics have described the developments as an infringement on Venezuela’s independence and sovereignty. Maduro, who is being held in a US prison on alleged narcoterrorism and drug-trafficking charges, is scheduled to face trial on June 1, 2027.