Trump says U.S. now has control over 65 billion barrels of Venezuelan oil reserves
Summary
President Trump announced that the United States has gained majority control over more than 65 billion barrels of proven oil reserves in Venezuela through a new deal. The administration aims to encourage U.S. oil companies to return to Venezuela following a recent leadership change there, and the deal involves private business partnerships without costing American taxpayers.Key Facts
- The U.S. now has majority control over 65 billion barrels of Venezuelan oil reserves.
- This deal was announced by President Trump on a Friday.
- The agreement was made through a partnership with private companies.
- Details about which oil fields are included and operators have not been released.
- President Trump stated the deal will double U.S. oil reserves and help lower gas prices.
- Secretary of State Marco Rubio said the deal could bring around $100 billion in private investment.
- The deal aims to support thousands of jobs and help rebuild Venezuela’s economy.
- Venezuela has over 300 billion barrels of proven oil reserves in total.
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