US President Donald Trump has announced a historic energy agreement with Venezuela that will double American oil reserves and secure majority control over 65 billion barrels.
Writing in a post on his Truth Social network on Friday, Trump declared that the United States had closed the largest oil deal in world history. He said the transaction would considerably expand the domestic oil supply and substantially lower long-term gasoline prices for consumers across the country.
Under the terms outlined by the president, the agreement establishes majority American control over more than 65 billion barrels of proven Venezuelan oil reserves. Venezuela, a South American nation located on the Caribbean coast, possesses some of the largest crude oil reserves in the world.
Trump described the transaction as a private sector partnership negotiated by US Secretary of State Marco Rubio and Secretary of War Pete Hegseth. He said the cabinet officials worked in close collaboration with Venezuela's interim president, Delcy Rodriguez, whom Trump praised as a respected and valid negotiating partner.
The president noted that the transaction would greatly strengthen diplomatic and economic ties between Washington and Venezuela under Rodriguez's leadership.
Investment and economic impact
Rubio commended the agreement as a major victory for both the American and Venezuelan populations. He estimated that the deal would attract nearly 100 billion dollars in private sector investment, support thousands of well-paid jobs, and drive the reconstruction of Venezuela's struggling economy.
The Secretary of State said the arrangement demonstrates how the administration's bold foreign policy achieves key goals under its America First principle. He emphasized that securing stable, low-cost oil reserves within the Western Hemisphere directly serves US national interests while helping lower energy costs at home.
Shift in US-Venezuela relations
The landmark energy deal represents a major milestone in the rapidly evolving relationship between Washington and Caracas. US military forces captured former Venezuelan President Nicolas Maduro on January 3, 2026, ending years of bitter political and economic confrontation between the two governments.
Following Maduro's capture, relations between the United States and Venezuela moved from open conflict toward progressive rapprochement. The US government has gradually lifted economic sanctions against the country, opening the path for growing diplomatic normalization and commercial cooperation under Rodriguez's interim administration.
