President Donald Trump announced on Friday that the United States has entered into an agreement with Venezuela to assume control of the South American nation’s 65 billion barrels of oil reserves. In a social‑media post, Trump highlighted that the deal was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuela’s interim President Delcy Rodriguez.
Strategic rationale
Trump framed the agreement as a historic step to secure American energy independence and curb soaring gasoline prices. He noted that the United States has been drawing down its strategic petroleum reserves, which fell below 300 million barrels in early August, a drop of more than 100 million barrels since the start of 2026.
Background on Venezuela’s oil
Venezuela holds one of the world’s largest oil reserves, estimated at 303 billion barrels—about 17 % of global supply, according to the U.S. Energy Information Administration. Despite the massive resource base, dilapidated infrastructure limits production to roughly 1 % of world output.
From Maduro’s ouster to oil talks
The announcement follows the Trump administration’s January operation that captured Venezuelan President Nicolás Maduro and brought him to the United States to face federal narcoterrorism and drug‑trafficking charges. In the weeks after Maduro’s removal, Trump floated the idea of allowing U.S. oil firms to return to Venezuela and tap its reserves, arguing that past nationalizations under former President Hugo Chávez had seized American assets.
Implications for American consumers
By securing a share of Venezuela’s oil, the administration hopes to increase supply, lower domestic fuel prices, and reduce reliance on foreign energy sources. The move also signals a broader strategy to confront adversarial regimes while protecting American economic interests.
Next steps
The agreement will require detailed implementation plans between U.S. and Venezuelan officials, including assessments of infrastructure needs and legal frameworks for joint production. Trump pledged that the deal will be finalized quickly to deliver tangible benefits to American families.
Original reporting: NBC6 Miami — read the source article.
