Trump says US reaches deal with Venezuela to control 65 billion barrels of country’s oil reserves

By Kit Maher, CNN

(CNN) — President Donald Trump said Friday night the United States reached an oil agreement with Venezuela, a move he said will more than double American oil reserves, increase oil supply and lower gas prices.

“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 said on social media.

“This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity. This Transaction will greatly strengthen the already growing relationship between Venezuela and the United States!” Trump continued.

Secretary of State Marco Rubio called the deal a “huge win for both the American and Venezuelan people.”

“For the Venezuelan people, this deal will bring nearly $100 billion in private investment, support thousands of high-paying jobs, and drive the reconstruction of Venezuela’s economy,” Rubio said shortly after Trump’s announcement.

This is a developing story and will be updated.

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