Trump Announces Major Oil Deal with Venezuela, Promises Economic Boost
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President Donald Trump announced Friday that the United States had reached an agreement with Venezuela securing majority U.S. control of more than 65 billion barrels of oil reserves, touting the deal as a major boost to U.S. energy security and a potential long-term answer to rising gas prices.
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NBC News“BREAKING NEWS: The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY! At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, and, through a partnership with private business, have secured majority U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer,” Trump wrote on Truth Social.
USA TodayTrump said a pact with Venezuela will allow the U.S. to control billions of barrels of oil, lowering gas prices for Americans and doubling reserves.
BBC NewsPublished The US has reached a deal with Venezuela to control more than 65 billion barrels of its proven oil reserves, according to President Donald Trump.
ABC NewsIn a social media post, Trump called it "THE BIGGEST OIL DEAL IN WORLD HISTORY" and said it would provide majority U.S. control of more than 65 billion barrels of proven oil reserves in Venezuela.
Fox NewsPresident Donald Trump on Friday touted an agreement with Venezuela that he said would lower gas prices by giving the U.S. majority control over 65 billion barrels of oil from the South American country's proven reserves.
PBS NewsHourTrump says U.S. has entered deal with Venezuela to control 65 billion barrels of its oil reserves The announcement of the deal comes nearly nine months after the U.S. military at Trump's direction carried out an operation to capture Venezuela's president Nicolás Maduro and spirit him to the United States to face federal narcoterrorism and drug trafficking charges.
New York TimesTrump Says U.S. Has Deal for Control of Large Share of Venezuela’s Oil The president said an agreement between the countries covered more than 65 billion barrels of reserves. A U.S. official said it would involve a partnership with a private company.
Washington TimesTrump said the agreement announced Friday night would give the United States a stake in Venezuela’s vast oil reserves, a step toward his goal of extracting energy from the country after American forces captured then-President Nicolás Maduro in a middle-of-the-night raid in January and brought him to New York to face federal drug trafficking charges.
Associated PressTrump said the agreement announced Friday night would give the United States a stake in Venezuela’s vast oil reserves, a step toward his goal of extracting energy from the country after American forces captured then-President Nicolás Maduro in a middle-of-the-night raid in January and brought him to New York to face federal drug trafficking charges.
The Guardian USDonald Trump announced Friday a new US oil agreement with Venezuela, saying the US will have “majority” control of 65bn barrels of proven oil reserves.
NPR NewsWASHINGTON (AP) — President Donald Trump said Friday that his administration has entered a sweeping agreement with Venezuela that, if realized, could give the U.S. access to vast amounts of the South American country's untapped oil reserves, at cost.
New York PostTrump announced Friday that Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Rodríguez had negotiated an agreement giving private US companies access to what he described as “65 BILLION BARRELS” of proven Venezuelan oil reserves “at no cost to the American Taxpayer.”
Washington ExaminerThe president said the United States has established “majority” control over more than 65 billion barrels of oil in Venezuela, “at no cost to the American taxpayer.” Trump said the transaction more than doubles U.S. oil reserves, a significant development given that the cost of energy has spiked due to turmoil in the Strait of Hormuz sparked by the president’s war with Iran.
HuffPost“The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” Trump wrote.
RealClearPoliticsTrump Announces Vast U.S. Stake in Venezuelan Oil Industry
The HillTrump says he secured ‘majority U.S. control’ of large slice of Venezuela’s oil reserves President Trump said Friday evening that there will be “majority U.S. control” of a large swath of Venezuela’s oil reserves.  “BREAKING NEWS: The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” Trump wrote in a post on Truth Social.  “At my…
BreitbartRep. Ro Khanna (D-CA) said Friday on MS NOW’s “All In” that President Donald Trump’s agreement giving the U.S. majority control over more than 65 billion barrels of Venezuelan’s oil reserves is “morally wrong.”
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A statement from Rodríguez said the deal involves the development of 17 fields with a proven potential of 65 billion barrels. It said the agreement could draw $100 billion in investment into Venezuela’s oil industry and yield over $209 billion in taxes for Caracas.
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Washington TimesA statement from Rodríguez said the deal involves the development of 17 fields with a proven potential of 65 billion barrels. It said the agreement could draw $100 billion in investment into Venezuela’s oil industry and yield over $209 billion in taxes for Caracas.
NPR NewsRodríguez's government in a statement said the deal involves the development of 17 fields with a proven potential of 65 billion barrels. It said the agreement could draw $100 billion in investment into Venezuela's oil industry and yield over $209 billion in taxes for Caracas.
New York PostThe Venezuelan government said companies would be permitted to work on 17 oil fields, bringing an estimated $100 billion in investment to the country’s battered oil industry and more than $209 billion in tax revenue.
ABC News"The agreement will allow for a significant increase in oil production with the participation of private operators," Rodriguez said in the statement, saying the deal calls for the development of 17 strategic fields, with a proven potential of 65 billion barrels of oil, and an investment of more than $100 billion, and more than $209 billion in tax revenue.
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Trump faces mounting pressure to address high gas prices as the war in Iran on Friday reached a six-month milestone with no conclusion in sight. The U.S. has tapped its strategic petroleum reserves, which in early August fell below 300 million barrels, down by more than 100 million barrels since the start of 2026.
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HuffPostTrump faces mounting pressure to address high gas prices as the war in Iran reaches a six-month milestone with no conclusion in sight. The U.S. has tapped its strategic petroleum reserves, which in early August fell below 300 million barrels, down by more than 100 million barrels since the start of 2026.
NBC NewsTrump is facing increasing pressure as midterms elections loom and gas prices have spiked because of the war with Iran, which was started by the U.S. and Israel six months ago on Feb. 28.
ABC NewsThe announcement comes as oil and gas prices continue to surge amid the Iran war, which reached the six-month mark on Friday.
The Daily WireThe timing is particularly significant as Americans face elevated energy prices and the Trump administration attempts to manage the economic fallout from the war with Iran. The conflict has disrupted global oil markets, particularly through the Strait of Hormuz, a critical shipping corridor for crude.
The Guardian USTrump is under pressure before November’s midterm elections over rising gasoline prices, which could be eased through cheaper oil supplies and expanded output.
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The average price of gas in the U.S. stood at about $4.09 a gallon on Friday, according to AAA. The average price was $3.21 at the same time last year.
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HuffPostThe average price of gas in the U.S. stood at about $4.09 a gallon on Friday, according to AAA. The average price was $3.21 at the same time last year.
Associated PressThe average price of gas in the U.S. stood at about $4.08 a gallon on Saturday, according to AAA. The average price was $3.20 at the same time last year.
Washington TimesThe average price of gas in the U.S. stood at about $4.08 a gallon on Saturday, according to AAA. The average price was $3.20 at the same time last year.
The Daily WireThe average price of gasoline in the United States was roughly $4.09 per gallon on Thursday, according to AAA. Trump has repeatedly argued that increasing American energy production and securing reliable supplies from friendly nations can help bring those prices back down.
Fox NewsThe breakthrough comes as disruptions to global energy markets from the Iran war continue to push up prices at the pump, with Americans now paying an average of $4.08 per gallon for regular gasoline, up from $3.20 a year ago, according to AAA.
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Venezuela’s acting president, Delcy Rodríguez, described the deal as a step toward economic recovery that will modernize the country’s oil industry.
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Washington TimesVenezuela’s acting president, Delcy Rodríguez, described the deal as a step toward economic recovery that will modernize the country’s oil industry.
ABC NewsIn a statement in English posted on social media, Venezuela's acting President Delcy Rodriguez hailed the agreement with the U.S. and said it would "have a significant impact on our nation's revival."
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Chevron, the only U.S. oil company actively producing in Venezuela, declined to comment. Separately from Trump’s announcement, Chevron already had been in talks to expand investment in the country. Exxon Mobil also declined to comment.
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Associated PressChevron, the only U.S. oil company actively producing in Venezuela, declined to comment. Separately from Trump’s announcement, Chevron already had been in talks to expand investment in the country. Exxon Mobil also declined to comment.
ABC NewsChevron, the only U.S. oil company currently operating in Venezuela, declined to comment on the president's post.
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“This Transaction will greatly strengthen the already growing relationship between Venezuela and the United States,” Trump wrote.
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ABC NewsTrump also said the deal would "greatly strengthen" the relationship between the U.S. and Venezuela.
15 details only one outlet reported
Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 New York Post Florida Republican Rep. María Elvira Salazar did a quick about-face on President Trump’s massive Venezuela oil deal Saturday — deleting a social media post blasting the pact before returning to declare it was “a great deal” for America and the Venezuelan people
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02 Reuters Venezuela's interim president says US energy deal will last 25 years - Reuters Venezuela's interim president says US energy deal will last 25 years Reuters
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03 NPR News The U.S.-Israel war against Iran has led to a dramatic slowdown of Gulf oil moving through the Strait of Hormuz, which about 20% of the world petroleum passed through prior to the conflict.
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04 HuffPost The U.S.-Israel war against Iran has led to a dramatic slowdown of Gulf oil moving through the Strait of Hormuz, which about 20% of the world petroleum passed through prior to the conflict.
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05 Washington Examiner The president’s latest announcement on the sweeping oil deal with Venezuela comes at a critical time for the Republican Party. At roughly two months out from the midterm elections, Democrats have seized on gas prices that have surged due to the Iran war to press affordability issues and make their case for a change of leadership down the ballot in November.
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06 Breitbart Host Chris Hayes said, “I want to ask you about something he said today. He just announced that having abducted a president of that country, that we are now going to essentially get all their oil reserves. This is a huge deal. And we’ve now taken over, essentially, Venezuelan oil reserves. Do you think there’s still like a core of anti-imperial civic culture in this country, in which just people understand there’s something wrong about abducting a country’s leader to take their oil?”
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07 Associated Press 1:03 AP Photographer shows how she covered Trump’s election campaign 0:39 AP photographer shows how she captured Harris’ election campaign
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08 Washington Times But the answers to questions such as how soon the reserves could be drilled and who will pay to make it happen were not immediately clear. No text of any agreement has been released.
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09 Fox News While the U.S. will not immediately gain access to 35.75 billion barrels of oil, the 55% interest applies to the oil ultimately produced by the 17 Venezuelan fields covered by the agreement.
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10 ABC News Venezuela has been beset by economic crises for years and suffered two powerful back-to-back earthquakes in June that left more than 6,000 people dead.
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11 The Guardian US The Trump administration’s talks with Venezuela were first reported earlier this week by the Wall Street Journal and Axios.
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12 New York Times ‘A New Form of U.S. Colonialism’: Venezuelans Bristle at U.S. Oil Takeover A deal giving the U.S. majority control of vast Venezuelan reserves strikes at the heart of national identity.
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13 NBC News Space Academy 01:31 Trump orders Lake Ontario renamed ‘Lake America’ 01:25 Can Trump rename Lake Ontario to 'Lake America'? 02:04 Trump signs executive order to rename Lake Ontario to 'Lake America' 00:57 Secret Service responds to reports of Iranian threat against Trump's son Barron 01:51 Supreme Court allows Trump's mail-in ballot order to go into effect 01:53 U.S. imposes 50% tariffs on some Canadian goods after trade talks collapse 02:20 Trump tells voters to ‘pretend’ he is on the ballot ahead of South Carolina Senate runoff 01:51 Trump says he will meet with Kim Jong Un this year 02:26 Trump says he had 'a good conversation' with Canadian prime minister about tariffs 01:29 Trump posts that 'no talks or conversations' are scheduled with Iran 02:46 Melania Trump noticeably keeping a much lower profile in her second term as first lady 03:32 Trump threatens to bomb Oman if it interferes with Strait of Hormuz deal 03:50 Trump speaks on higher gas prices 00:58 Trump downplays concerns about living conditions on aircraft carrier 01:33 Trump downplays concerns about conditions aboard USS Abraham Lincoln 02:26 Haitians in Maryland live in fear over ICE detentions after end of their TPS status 03:34 Karoline Leavitt to step down as White House press secretary at end of August 03:23
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14 The Daily Wire Trump said the agreement comes “at no cost to the American Taxpayer” and argued that it will strengthen the increasingly close relationship between Washington and Caracas.
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15 RealClearPolitics Warsh: The Hawk at Jackson Hole
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