US secures control over vast Venezuelan oil reserves, Trump claims

President Donald Trump announced that the United States has secured control over immense oil reserves in Venezuela, a move he claims will more than double the nation's proven reserves. According to Trump's statement on Truth Social, the agreement places over 65 billion barrels of proven oil reserves under U.S. control.

Details surrounding the agreement are scarce, and official confirmation from Venezuela was not immediately available. Trump indicated the deal was reached in consultation with Venezuela's acting president, Delcy Rodríguez, and that private industry also participated. This development comes after U.S. special forces detained former Venezuelan leader Nicolás Maduro earlier this year, who, along with his wife, faces U.S. charges including "narco-terrorism."

Venezuela holds the world's largest proven oil reserves. The U.S. Energy Information Administration (EIA) reported U.S. reserves at 46 billion barrels at the end of 2024, a figure that includes crude oil and condensate. The potential addition of Venezuelan reserves would significantly bolster U.S. energy holdings.

Trump's administration has previously sought to exert influence over Venezuela's oil industry and politics. Venezuela is currently led by acting president Delcy Rodríguez, who has reportedly collaborated with Washington on petroleum matters. The announcement occurs while Trump faces domestic political pressure related to rising gasoline prices, exacerbated by the ongoing conflict in Iran.

Critics had previously described the U.S. actions against Maduro as a violation of international law. The political landscape in Venezuela remains complex, with opposition leader María Corina Machado awaiting a return that her allies are reportedly delaying.

“

With the agreement, the amount of U.S. reserves will more than double.