President Trump Announces Historic Agreement to Access 65 Billion Barrels of Venezuelan Oil
WASHINGTON — In a move described by the White House as the “biggest oil deal in world history,” President Donald Trump announced on Friday that the United States has reached a landmark agreement with Venezuela to gain control over 65 billion barrels of the South American nation’s vast crude oil reserves.
The President shared the news via social media, crediting a high-level diplomatic effort led by Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth. According to the President, the agreement was finalized with Venezuela’s interim President, Delcy Rodriguez.
The breakthrough comes nearly nine months after a decisive U.S. military operation, ordered by President Trump, which successfully apprehended former Venezuelan President Nicolás Maduro. Maduro is currently being held in the United States to face federal charges related to narcoterrorism and international drug trafficking.
Addressing Energy Security
The timing of the deal appears directly tied to the administration’s efforts to stabilize domestic energy markets. As the war in Iran enters its sixth month, global energy prices have remained volatile, placing significant pressure on the U.S. economy. By early August, the U.S. Strategic Petroleum Reserve had dipped below 300 million barrels—a decline of more than 100 million barrels since the beginning of 2026—prompting an urgent search for long-term supply solutions.
President Trump has long maintained that the U.S. has a historical claim to the region’s energy resources. Since the ouster of the Maduro regime in January, the President has frequently argued that Venezuela effectively “stole” assets from American oil companies when former President Hugo Chavez moved to nationalize foreign-owned properties decades ago.
A Resource-Rich Future
Venezuela holds the world’s largest oil reserves, with an estimated 303 billion barrels of crude—roughly 17% of the global supply, according to the U.S. Energy Information Administration. While these reserves are remarkably well-mapped compared to other global oil fields, the country’s output has struggled to exceed 1% of total world production due to years of infrastructure decay and economic instability.
By securing access to a significant portion of these reserves, the administration aims to revitalize production and bolster energy independence.
The announcement has sent ripples through global markets as analysts assess how the integration of Venezuelan crude will impact the ongoing energy crisis. For further details on this developing story, you can read more about the oil reserves and the terms of the agreement as reported by official sources.
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