Trump announces 'historic' US-Venezuela oil deal that he says will lower gas prices
Summary
President Donald Trump announced a new oil deal between the United States and Venezuela. The deal gives the U.S. majority control of over 65 billion barrels of Venezuela’s proven oil reserves and aims to lower gas prices for Americans.Key Facts
- The deal involves U.S. control of more than 65 billion barrels of proven oil reserves in Venezuela.
- President Trump called it "the biggest oil deal in world history."
- The agreement is expected to reduce gas prices in the U.S. for a long time.
- Venezuela’s acting President Delcy Rodriguez welcomed the deal and said it would help revive Venezuela’s economy.
- The deal includes developing 17 strategic oil fields with investments over $100 billion.
- Venezuela holds the largest proven oil reserves in the world.
- The deal aims to increase oil production through private companies working in Venezuela.
- Secretary of State Marco Rubio and Secretary of War Pete Hegseth were involved in making the deal happen.
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