Trump says US secured 65 billion barrels of Venezuelan oil

President Donald Trump said Friday that his administration has entered a sweeping agreement with Venezuela that, if realized, could give the U.S. access to vast amounts of the South American country's untapped oil reserves, at cost. Trump in a social media post announcing the agreement said it was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Venezuela's acting 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.
Trump said the arrangement, reached after weeks of negotiations between Washington and Caracas, would give the United States access to a significant share of Venezuela's vast oil reserves at no cost to American taxpayers. The announcement came as Venezuelan officials prepared to sign agreements next week granting new oil exploration and production rights to several companies, particularly US firms. The proposed deal would significantly expand the US role in Venezuela's energy sector as the Trump administration seeks to revive the country's oil production and secure additional crude supplies for US refineries.
Venezuela has the world's largest proven oil reserves but currently produces about 1.25 million barrels per day, well below its potential following years of underinvestment, mismanagement and sanctions. Trump did not disclose the structure of the agreement, the oilfields involved, the companies participating or how the United States would exercise majority control over the reserves.
Rubio described the agreement as beneficial for both countries, saying it would provide the United States with stable, low-cost oil and could help reduce gasoline prices. He said Venezuela could receive nearly $100 billion in private investment, create thousands of high-paying jobs and rebuild its economy.