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

President Donald Trump announced Friday that the United States has secured what he described as the "biggest oil deal in world history" with Venezuela, involving control over 65 billion barrels of the South American nation's oil reserves. Trump made the declaration on his Truth Social platform, asserting that the agreement would come at "no cost to the American taxpayer."

According to Trump, the deal was negotiated by U.S. Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, with Venezuelan interim President Delcy Rodriguez. He suggested the agreement could more than double the U.S. oil reserves. However, the Venezuelan government's press office and the White House did not immediately respond to requests for details on the arrangement or potential private-sector involvement.

The announcement arrives as the U.S. grapples with rising gasoline prices, with the average price per gallon standing at about $4.09 on Friday, according to AAA. This surge occurs amidst disruptions to global oil supplies, partly due to the ongoing U.S.-Israeli war with Iran, which has significantly reduced oil flow through the Strait of Hormuz.

Venezuela possesses the world's largest proven crude oil reserves, estimated at 303 billion barrels. Despite this, the country produces only about 1 percent of global oil, a low output attributed to years of mismanagement, deteriorating infrastructure, and U.S. sanctions. This announcement follows Trump's earlier actions, including the capture of Venezuelan President Nicolas Maduro on federal charges and his subsequent urging for U.S. oil companies to invest in Venezuela's energy sector, though industry executives have expressed caution due to political instability and infrastructure issues.

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The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!