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🇻🇪 Venezuela /Economy & Trade

Trump announces historic oil deal with Venezuela that will double U.S. reserves

From El Nacional · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • The U.S. and Venezuela have signed a historic energy agreement, granting the U.S. majority control over over 65 billion barrels of crude oil.
  • President Trump stated the deal will more than double U.S. oil reserves and significantly lower gasoline prices.
  • The agreement is expected to attract approximately $100 billion in private investment to Venezuela, supporting job creation and economic recovery.

President Donald Trump announced a significant energy accord with Venezuela, which he described as the "most important oil agreement in recent history." This deal grants the United States majority control over more than 65 billion barrels of crude oil, a move that is expected to more than double the U.S.'s oil reserves.

The historic transaction more than doubles the oil reserves of the United States, considerably increases our oil supply, and will substantially reduce gasoline prices for all Americans in the long term.

— Donald TrumpPresident Trump's statement on the economic impact of the Venezuela oil deal.

Trump highlighted the agreement's potential to boost the U.S. economy by increasing oil supply and substantially reducing gasoline prices for Americans in the long term. The pact was structured as an alliance with the private sector, coordinated by Secretary of State Marco Rubio and Secretary of War Pete Hegseth, in conjunction with Venezuela's interim president, Delcy Rodríguez.

Secretary of State Marco Rubio emphasized the strategic achievement for both nations, predicting it will catalyze Venezuela's economic recovery after years of crisis. He stated that the agreement is projected to attract around $100 billion in private investment, create thousands of well-paying jobs, and aid in rebuilding Venezuela's economy.

The agreement will attract about $100 billion in private investment, support thousands of well-paying jobs, and boost the reconstruction of Venezuela's economy.

— Marco RubioSecretary of State Marco Rubio on the economic benefits for Venezuela.

Rubio further framed the deal as a testament to Trump's "America First" foreign policy, asserting that it secures stable reserves and low-cost oil within the Western Hemisphere. This agreement marks a notable shift in bilateral relations between Caracas and Washington, following the capture of Nicolás Maduro by U.S. forces in January 2026, moving from diplomatic confrontation to cooperation.

It demonstrates how President Trump's bold foreign policy drives achievements under the principle of 'America First': securing stable reserves and low-cost oil in our hemisphere.

— Marco RubioSecretary of State Marco Rubio framing the deal within the 'America First' policy.
About this summary

Originally published by El Nacional in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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