Trump Secures Major Oil Deal with Venezuela
By Editor • August 29, 2026 • 1 min read
In a groundbreaking announcement, President Donald Trump revealed a significant oil agreement with Venezuela that aims to revitalize the nation’s struggling energy sector. The deal grants the U.S. control over approximately 65 billion barrels of proven oil reserves, promising a substantial boost to American oil resources.
Trump, in a post on Truth Social, described the deal as historic, claiming it will double U.S. oil reserves and lead to lower gas prices for consumers. Venezuelan interim President Delcy Rodriguez endorsed the agreement, which could inject around $209 billion into Venezuela’s treasury.
Following weeks of negotiations, the arrangement is expected to allow American companies long-term access to Venezuelan oilfields, with new agreements slated for signing next week. While this deal marks a pivotal shift in U.S. involvement in Venezuela's oil, it may still face legal challenges due to the Venezuelan government’s stringent control over the energy sector.
Source: www.aljazeera.com
