Trump declares US-Venezuela oil deal the 'biggest in world history'
Donald Trump (photo: Getty Images)
US President Donald Trump has announced that Washington and Venezuela have struck the "biggest oil deal in world history," according to his post on Truth Social.
In his post, Trump wrote that under his direction, Secretary of State Marco Rubio and Pentagon chief Pete Hegseth, working closely with Venezuela's interim president, Delcy Rodríguez, and in partnership with private business, have secured a US controlling interest in over 65 billion barrels of Venezuela's proven oil reserves.
According to the US president, America acquired the stake at no cost to US taxpayers.
"Transaction more than doubles American oil reserves, greatly increases our Oil Supply, and will substantially lower gas prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward tremendous success and great prosperity," the statement read.
Concluding, Trump said the deal would significantly strengthen the already burgeoning ties between the US and Venezuela.
Notably, shortly beforehand, Bloomberg published a report indicating that the US was seeking a significant stake in Venezuela's oil reserves through a potential partnership between the Pentagon and Alejandro Betancourt, a controversial investor in the energy sector who has emerged as a key intermediary between the two countries.
"The negotiations are focused on as many as 17 oil fields that span Venezuela’s main petroleum basins," sources said.
What else is known
Early in 2026, Trump conducted a military operation in Venezuela, abducting President Nicolás Maduro and his wife, who are now facing trial in the United States. Recently, he suggested that a military operation in Cuba could also follow the Venezuela model.
Over the summer, media reported that Secretary of State Marco Rubio had been granted unprecedented powers in Venezuela, including authority over the country's financial system, oil industry, and state institutions.
