US Secures Deal with Venezuela to Double Oil Reserves, Trump Announces

President Donald Trump announced that the United States has secured an agreement with Venezuela to take control of more than 65 billion barrels of its proven oil reserves.

The former president tweeted that the “historic transaction” would more than double U.S. oil reserves, increase supply and lower gasoline prices for Americans.

The deal follows Trump’s earlier political push after the arrest of Venezuelan President Nicolás Maduro in 2026, during which the U.S. sought to tap Venezuela’s vast petroleum resources. Secretary of State Marco Rubio characterized the pact as a “huge win for both the American and Venezuelan people.”

Although specifics have not yet been disclosed, the announcement signals a new phase in U.S. energy policy amid domestic demand for cheaper fuel.