Trump's Historic Oil Deal with Venezuela: What It Means for the U.S.

President Trump announced a major agreement with Venezuela Friday that will allow the US to “more than double” its existing oil reserves.

In a Truth Social post, Trump touted the agreement as “THE BIGGEST OIL DEAL IN WORLD HISTORY!”

“At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, and, through a partnership with private business, have secured majority US control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer,” the president wrote.