Trump claims historic oil deal with Venezuela

President Donald Trump announced a significant oil agreement with Venezuela, asserting it grants the United States control over the vast majority of the nation's documented oil reserves, estimated at over 65 billion barrels.

Trump described the deal as "historic," claiming it would more than double U.S. oil reserves, substantially increase the nation's oil supply, and lead to considerably lower gasoline prices for Americans in the long term. He highlighted the agreement as a collaborative effort involving the U.S. government, Venezuela's interim president Delcy Rodríguez, and private companies.

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The historic agreement more than doubles America's oil reserves, significantly increases our oil supply, and will significantly lower gasoline prices for all Americans far into the future.

The announcement comes at a time when the U.S. president faces pressure over rising consumer prices, particularly gasoline, which have surged since the conflict with Iran escalated and shipping through the Strait of Hormuz became restricted. Trump suggested the agreement would greatly strengthen the relationship between Venezuela and the U.S.

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The agreement will greatly strengthen the already growing relationship between Venezuela and the United States.