Trump: U.S. to Control some of Venezuela’s Oil Reserves
Marco Rubio said the agreement could bring $100 billion in private investment and lower U.S. gas prices.
- On Friday, President Trump announced an agreement with Venezuela to control 65 billion barrels of oil reserves, negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuelan interim President Delcy Rodriguez.
- Trump faces mounting pressure to address high gas prices as the war in Iran reached a six-month milestone Friday, with U.S. average prices at about $4.09 a gallon versus $3.21 last year.
- Rubio claims the agreement will usher in $100 billion in private investment, stating, "This deal is a huge win for both the American and Venezuelan people." Venezuela holds about 17% of the world's oil supply.
- Venezuela produces only about 1% of the world's oil due to dilapidated infrastructure, and ExxonMobil CEO Darren Woods previously viewed the nation as "un-investable" following assets nationalized by former Venezuelan President Hugo Chavez.
- Oil transit through the Strait of Hormuz has slowed due to conflict in the Gulf, where about 20% of global petroleum previously passed, as The United States strategic petroleum reserves fell below 300 million barrels in early August.
47 Articles
47 Articles
The US President Donald Trump has now succeeded in Venezuela in teaching hostile takeover: after the violent withdrawal of the controversial head of state Nicolás Maduro, he and his successor have now agreed to receive a fifth of Venezuela's oil reserves. The deal was well prepared ...
The US is in control of 65 million barrels of oil. The deal with Venezuela makes it possible to reduce the fuel price "for all Americans" for years, says US President Donald Trump. Since the beginning of the Iran war, it has risen by a third in the US.
Trump announced an agreement to manage a fifth of the country's reserves, which are the largest in the world
In a statement, Venezuela's president-in-charge, Delcy Rodríguez, confirmed Friday night the oil agreement between her government and that of the United States, ensuring that it will boost the economic growth of her country. Rodríguez's publication was revealed a little after U.S. president Donald Trump announced in Truth Social the agreement that will lead to the U.S. taking control of 65 billion barrels of Venezuelan oil reserves.
US President Donald Trump openly admits that American interest in Venezuela is primarily due to its oil wealth. Now he has made a deal with the country's managing president, Delcy Rodríguez.
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