Trump announces ‘biggest oil deal in world history’ with Venezuela to secure 65 billion reserve barrels

What’s in the US-Venezuela ‘biggest oil deal in world history?’

US President Donald Trump has claimed the US and Venezuela have reached the ‘biggest oil deal in world history’.

Aug 29, 2026

Trump announces ‘biggest oil deal in world history’ with Venezuela

US president says deal secures majority control of more than 65 billion barrels of proven oil reserves in Venezuela.

Aug 29, 2026

Trump says U.S. has entered deal with Venezuela to take control of 65 billion barrels of oil reserves

President Trump says his administration has entered a sweeping agreement with Venezuela that could give the U.S. access to vast amounts of the South American country's untapped oil reserves, at cost.

Aug 29, 2026

Trump says US has agreed deal with Venezuela to take control of 65 billion barrels of oil reserves

The president touts “the biggest oil deal in world history” six months on from the start of the Iran war, which sent energy prices spiralling.

Aug 28, 2026

Trump hails "biggest oil deal in world history" with Venezuela

President Trump said Friday the U.S. has struck a deal with Venezuela to take control of oil fields with 65 billion barrels of reserves. Why it matters: The unprecedented deal vastly increases U.S. energy security and dominance in the Western Hemisphere. Axios first reported the deal was in the offing Thursday. Zoom in: The details have yet to be released, but a source familiar described the unorthodox arrangement as a type of "public-private partnership" between the U.S., private companies and

Aug 29, 2026

Trump announces ‘biggest oil deal in world history’ with Venezuela to secure 65 billion reserve barrels

The president says the agreement with Venezuela that will allow the US to “more than double” its existing oil reserves.

Aug 28, 2026

Trump announces massive oil deal with Venezuela for over 65 billion barrels in reserves

President Donald Trump announced on Friday that he struck a historic oil deal with Venezuela, after wresting power from former Venezuelan dictator Nicolas Maduro in January. The president said the United States has established “majority” control over more than 65 billion barrels of oil in Venezuela, “at no cost to the American taxpayer.” Trump said the transaction […]

Aug 28, 2026

Trump Announces ‘Biggest Oil Deal In World History’

President Donald Trump announced Friday that the United States had reached an agreement with Venezuela securing majority U.S. control of more than 65 billion barrels of oil reserves, touting the deal as a major boost to U.S. energy security and a potential long-term answer to rising gas prices. Trump announced the agreement in a Truth ...

Aug 28, 2026