Trump Announces Deal With Venezuela to Secure Over 65 Billion Barrels of Oil

President Donald Trump announced via a late‑night post that the United States has entered an agreement to take control of more than 65 billion barrels of Venezuelan oil. Trump described the pact as the biggest oil deal in world history, noting it could reshape the global energy market.^{[1][2][3][4][5]}

According to the White House, the agreement was negotiated by Secretary of State Marco Rubio, Defence Secretary Pete Hegseth and interim Venezuelan President Delcy Rodriguez, with the aim of securing the country’s vast oil reserves for U.S. interests.^[2]

Trump amplified the announcement by declaring the deal the ‘biggest oil deal in world history,’ a claim shared by the Australian, New Zealand and Hong Kong media reports that followed the tweet.^[2][3][4]

The statement was issued six months after the start of the Iran‑Hamas war, a conflict that has already sent global energy prices spiralling and heightened concerns about supply security.^[3][4]

Strategic Context

The announcement was made as Washington sought to ease pressure on consumers facing rising gasoline prices, a trend exacerbated by disruptions through the Strait of Hormuz that have stretched global supply chains.^[5]