US-Venezuela oil deal to bring $100 billion in private investment: Rubio

U.S. Secretary of State Marco Rubio announced Friday that a significant new oil deal with Venezuela is poised to inject nearly $100 billion in private investment into the Latin American nation. The agreement, which grants the United States a substantial stake in Venezuelan petroleum reserves, is expected to bolster both nations' economies and energy security.

Rubio shared the details on the social media platform X, emphasizing the dual benefits of the deal. For the United States, it promises to secure stable energy reserves and contribute to lower gasoline prices. "For the Venezuelan people, this deal will bring nearly $100 billion in private investment, support thousands of high-paying jobs, and drive the reconstruction of Venezuela’s economy," Rubio stated.

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For the Venezuelan people, this deal will bring nearly $100 billion in private investment, support thousands of high-paying jobs, and drive the reconstruction of Venezuela’s economy.

The announcement follows Caracas's confirmation on Friday that Venezuela had signed a major oil deal with the United States, granting Washington majority control in key areas of the country's vast oil sector. This development marks a significant shift in energy relations between the two countries.

While the article also briefly mentions unrelated news items from Jamaica concerning hurricane season preparedness, transport operators, a fire investigation, rising food prices, and an upcoming album release, the core focus remains on the U.S.-Venezuela oil agreement and its projected economic impacts.

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this deal would secure stable reserves and lower gas prices in the US