President Donald Trump announces a US-Venezuela oil agreement under which the United States would take control of 65 billion barrels of oil, describing it as the “biggest oil deal in world history.” Multiple outlets report that Trump makes the announcement via a social media post, outlining that the US will gain majority control of Venezuela’s proven oil reserves, “at no cost” to American taxpayers.
Outlets add varying details on how the deal is framed and who negotiated it. Several sources say Trump credits Secretary of State Marco Rubio, Defence Secretary Pete Hegseth, and Venezuela’s interim President Delcy Rodriguez with negotiating the agreement. NBC News and others echo Rubio’s characterisation of the deal as a win for both countries. One reported context element is that the announcement follows, by nearly nine months, a US military operation ordered by Trump that captures Venezuela’s President Nicolás Maduro and brings him to the US on federal charges related to narcoterrorism and drug trafficking. Other reports focus more narrowly on the scale of the oil reserves and the prospect of investment, including claims of nearly $100 billion in private investment.
Overall, sources agree on the headline figure of 65 billion barrels and Trump’s description of the deal, while differing on emphasis: some stress the negotiation credits and “no cost” framing, others foreground the preceding US operation and financial investment expectations.
