US secures control of 65 billion barrels of Venezuelan oil reserves

The United States has entered an agreement with Venezuela to control 65 billion barrels of oil reserves. Announced by President Donald Trump, this deal is considered the largest oil deal in history and aims to lower gas prices in the U.S. while providing significant investment and job opportunities for Venezuela. The agreement follows the U.S. military's operation to capture former President Nicolás Maduro and is part of a broader strategy to stabilize oil supplies amid rising prices.

US secures control of 65 billion barrels of Venezuelan oil reserves
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Updated Aug 29, 2026 First published Aug 28, 2026
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