Trump announces deal with Venezuela to secure more than 65 billion barrels of oil reserves
Trump said the agreement could draw nearly $100 billion in private investment and help lower U.S. gasoline prices.
- On Friday, President Donald Trump announced an agreement with Venezuela's interim President Delcy Rodriguez securing majority U.S. control of more than 65 billion barrels of oil through a partnership with private business, directed by Secretary of State Marco Rubio and Secretary of War Pete Hegseth.
- U.S. strategic oil reserves fell below 300 million barrels in early August, prompting the administration to seek new crude sources after six months of Iran-related supply disruptions disrupted global markets and pressured gasoline prices ahead of midterm elections.
- The agreement targets 17 strategic oil fields expected to attract nearly $100 billion in private investment, aiming to revive Venezuela's deteriorated energy sector and secure additional crude for U.S. refineries while generating over $209 billion in tax revenue for Caracas.
- Secretary of State Marco Rubio called the deal 'a huge win for both the American and Venezuelan people,' while the administration claims the transaction will more than double U.S. oil reserves and substantially lower gas prices for Americans.
- Industry experts remain skeptical about immediate production gains due to Venezuela's dilapidated infrastructure and political uncertainty; Francisco Monaldi, director of the Latin American Energy Program at Rice University, warned that meaningful expansion will require years of significant capital investment.
872 Articles
872 Articles
PSUV Expresses Full Support for Delcy Rodriguez After Energy Agreement Between Venezuela and the US.
The political organization catalogued the measure as a strategic decision within the constitutional framework to recover the economy, generate employment and overcome the impact of external sanctions.
NEW: U.S. Signs Landmark Oil Deal With Venezuela
President Donald Trump announced Friday that the United States had entered an agreement with Venezuela concerning more than 65 billion barrels of the South American country’s proven oil reserves. The announcement followed weeks of negotiations involving Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuela’s interim President Delcy Rodríguez. “The United States of […]
The agreement contemplates 100 years of concession, 55% of U.S. control and almost $100 billion in private investment
Coverage Details
Bias Distribution
- 40% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
