Donald Trump Announces Biggest Oil Deal with Venezuela

President Donald Trump on Friday said the US has entered an agreement with Venezuela to take control of 65 billion barrels of the South American country's oil reserves. 

Trump in a social media post announced the agreement he said was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Venezuela's interim President Delcy Rodriguez. "The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!" Trump wrote.

The announcement of the deal



comes nearly nine months after the US military at Trump's direction carried out an operation to capture Venezuela's president Nicolas Maduro and spirit him to the United States to face federal narcoterrorism and drug trafficking charges. 

Trump faces mounting pressure to address high gas prices as the war in Iran reaches a six-month milestone with no conclusion in sight. 

The US has tapped its strategic petroleum reserves, which in early August fell below 300 million barrels, down by more than 100 million barrels since the start of 2026.