South America

Trump Says U.S. Secured Control of 65 Billion Barrels of Venezuelan Oil

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Courtroom-sketch editorial illustration of Donald Trump raising one hand beside an aircraft staircase as uniformed military personnel salute behind him, rendered in warm ochre and slate-blue pastel strokes.

President Donald Trump said the United States had entered an agreement with Venezuela giving it majority control of more than 65 billion barrels of proven Venezuelan oil reserves. He said Secretary of State Marco Rubio and Defense Secretary Pete Hegseth worked with interim President Delcy Rodríguez and private businesses on the transaction, which he said would cost U.S. taxpayers nothing. Trump claimed the deal would more than double U.S. oil reserves, increase supply and lower gasoline prices. Those projected effects are Trump's claims and were not independently established in the reporting.

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