Trump Announces Landmark Oil Agreement with Venezuela, Eyeing Lower Gas Prices
President Donald Trump announced a transformative energy agreement with Venezuela on Friday, declaring that the United States has secured majority control of more than 65 billion barrels of the South American nation’s proven oil reserves.
The President took to Truth Social to herald the development, describing the pact as “the biggest oil deal in world history.”
According to the administration, the deal was finalized through the collaborative efforts of Secretary of State Marco Rubio, Secretary of War Pete Hegseth, and Venezuelan interim President Delcy Rodriguez. The President emphasized that the agreement was reached with the involvement of private enterprise and was secured “at no cost to the American taxpayer.”
A Strategic Energy Shift
The potential impact of this deal on the U.S. economy is significant. “This historic transaction more than doubles American oil reserves, greatly increases our oil supply, and will substantially lower gas prices for all Americans, long into the future,” Trump stated.
Secretary of State Marco Rubio echoed these sentiments on social media, characterizing the partnership as a “huge win” for both nations. Rubio noted that the agreement not only bolsters Western Hemisphere energy security by providing access to stable, low-cost oil but also serves as a catalyst for regional economic development.
Rubio projects that the arrangement will drive nearly $100 billion in private investment into Venezuela, a move expected to stimulate the country’s stagnant economy and create thousands of high-paying jobs.
Modernizing Venezuelan Infrastructure
Venezuelan interim President Delcy Rodriguez confirmed the details, noting that the agreement focuses on the development of 17 strategic fields.
“These investments will contribute not only to the recovery and modernization of our industry but also to our country’s economic growth, the energy security of our hemisphere, and greater balance in international markets,” Rodriguez said. She highlighted that the deal relies heavily on the participation of private operators to maximize production potential.
The administration’s announcement of the biggest oil deal in world history signals a major shift in the geopolitical energy landscape. By securing access to such vast reserves, the U.S. aims to insulate domestic consumers from global supply chain volatility.
While the White House has not yet provided additional details regarding the operational timeline, the announcement has already captured significant attention from global markets. As of Friday, the White House had not yet responded to requests for further comment on the specific regulatory frameworks governing the new partnership.
