The US and Venezuela have concluded the “largest oil deal in world history.” US leader Donald Trump announced this on his Truth Social account.
“The US has just reached an agreement with Venezuela on the largest oil deal in world history!” he wrote.
According to the US President, Washington will gain access to 65 billion barrels of Venezuelan oil “at no cost.” This will allow the US to more than double its oil reserves, expand supplies, and significantly lower gasoline prices for American citizens in the long term, he added.
Trump specified that the agreement was reached between Secretary of State Marco Rubio, Secretary of Defense Pete Hegseth, and Venezuela’s interim president, Delcy Rodríguez. The US leader expressed confidence that the deal would help Venezuela move toward “success and prosperity.”
Prior to this, US Deputy Secretary of Energy Kyle Haustveit stated that about half of the oil produced in Venezuela is exported to the US. According to him, the Latin American country produces around 1.25 million barrels of oil per day.
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