Trump Announces 65 Billion-Barrel Venezuela Oil Deal, Claiming It Will Double U.S. Reserves
Updated
Updated · The Washington Post · Aug 28
Trump Announces 65 Billion-Barrel Venezuela Oil Deal, Claiming It Will Double U.S. Reserves
3 articles · Updated · The Washington Post · Aug 28
Summary
Trump said Friday the United States reached an oil agreement with Venezuela covering 65 billion barrels, a stake he said would more than double U.S. reserves.
The president framed the deal as costing “no” American taxpayer money, though the arrangement is already described as contentious and potentially worth billions.
Later accounts said the U.S. secured majority control of the reserves with Venezuela’s interim government, after Nicolas Maduro’s ouster.
Trump and aides said the agreement would bring nearly $100 billion in private investment, boost supply, lower U.S. gasoline prices and deepen ties with Venezuela.
With billions in revenue flowing through opaque channels, who truly controls the financial windfall of this historic US-Venezuela energy pact?
Could Venezuela's massive new oil agreement with the United States trigger its exit from OPEC and permanently reshape global energy markets?
How will the US extract billions of barrels of oil from a nation whose infrastructure has been decaying for decades?
America’s 2026 Venezuela Oil Takeover: How the U.S. Seized 65 Billion Barrels and Redrew the Global Energy Map
Overview
In January 2026, the U.S. launched a surprise military raid in Venezuela, capturing President Maduro after months of escalating tensions and drug-smuggling crackdowns. The Trump administration, facing domestic pressure from rising gas prices and planning strikes against Iran, quickly took control of Venezuelan oil, selling it for billions and initially placing proceeds in a controversial offshore account. Despite claims of a historic oil deal and increased exports to the U.S., the financial management of these assets remained highly opaque, sparking bipartisan criticism. The intervention also triggered regional condemnation and set a precedent for resource-driven U.S. policy in Latin America.