Trump claims 'biggest oil deal in history' with Venezuela, but details remain unclear

U.S. President Donald Trump has declared a landmark oil agreement with Venezuela, proclaiming it the "biggest oil deal in world history" via his social media platform, Truth Social. The announcement, made on Friday evening, suggests a significant shift in energy relations between the two nations.

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The United States had secured the majority control over 65 billion barrels from the Venezuelan oil reserves.

According to Trump's statement, the United States has secured majority control over an estimated 65 billion barrels of Venezuela's vast oil reserves. He asserted that this deal would more than double the U.S.'s own oil reserves, a claim that, if accurate, would represent a substantial increase in national energy security.

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It is the biggest oil deal in the world history.

Secretary of State Marco Rubio, also commenting on the agreement, expressed optimism about its potential to lower energy prices for consumers. The U.S. has long sought to influence Venezuela's oil sector, particularly given the South American nation's status as possessing the world's largest proven oil reserves.

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Trump claims that the oil reserves of the USA would more than double as a result.

However, the precise details and full implications of this "historic" agreement remain largely undisclosed. The announcement raises questions about the nature of the control secured, the specific terms of cooperation, and how this deal aligns with existing international sanctions and U.S. policy towards Venezuela. Further clarification is expected regarding the operational aspects and the tangible benefits for both countries.

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His Secretary of State Marco Rubio promises low energy prices now.