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Trump Claims 'Biggest Oil Deal in World History' with Venezuela
🇨🇭 Switzerland /Economy & Trade

Trump Claims 'Biggest Oil Deal in World History' with Venezuela

From Le Temps · () French

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

At a glance

News Named sources New plan
  • Donald Trump announced a major oil deal with Venezuela, claiming it is the largest in world history.
  • The agreement reportedly gives the US majority control over 65 billion barrels of Venezuelan oil reserves.
  • The deal was made in cooperation with Venezuela's interim president and private companies, amid low US strategic reserves.

Former US President Donald Trump has announced a significant oil agreement with Venezuela, which he described as the "biggest oil deal in world history." The deal, if realized, would grant the United States majority control over more than 65 billion barrels of Venezuela's vast oil reserves.

the biggest oil deal in world history

— Donald TrumpAnnouncing the oil agreement with Venezuela on his Truth Social network.

Trump made the announcement via his social media platform, Truth Social, asserting that the agreement would effectively double US oil reserves. He stated the deal was forged in close collaboration with Venezuela's interim president, Delcy Rodriguez, and through partnerships with private companies.

in close collaboration with the interim president of Venezuela, Delcy Rodriguez

— Donald TrumpDescribing the partnership that led to the oil deal.

This announcement comes at a time when US strategic petroleum reserves are at their lowest levels since November 1982, according to data from the US Energy Information Administration. Venezuela, meanwhile, possesses the world's largest proven oil reserves, estimated at over 303 billion barrels.

through a partnership with private companies

— Donald TrumpDetailing the structure of the oil agreement.
About this summary

Originally published by Le Temps in French. 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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