Trump claims US majority control over 65 billion barrels of Venezuelan oil
The United States has secured majority control over 65 billion barrels of Venezuelan oil reserves, a move that significantly expands American energy assets and reshapes global crude supply dynamics.
US President Donald Trump announced on Friday that the United States has secured majority control of 65 billion barrels of proven oil reserves in Venezuela. The agreement was finalized with Venezuela’s interim president, Delcy Rodríguez, and brokered through a private business partnership by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth.
This arrangement effectively more than doubles the total oil reserves held by the United States. For global energy markets and international investors, the integration of such a massive volume of proven reserves into the American sphere signals a significant shift in crude supply dynamics and corporate investment opportunities.
American energy companies are poised to benefit directly from the arrangement. Chevron and other US firms are expected to sign a separate deal next week to invest billions of dollars into Venezuela’s deteriorated energy infrastructure, according to the Wall Street Journal.
The agreement follows the US capture and removal of former Venezuelan president Nicolás Maduro in January. Washington has since sought to secure a stable flow of Venezuelan crude for domestic refineries while encouraging American investment in the Opec member's energy sector, which currently produces 1.25 million barrels per day.
Domestically, the deal addresses immediate economic pressures for the Trump administration. With November midterm elections approaching, the president faces scrutiny over rising gasoline prices, which cheaper oil supplies and expanded output could alleviate. The arrangement also aids efforts to replenish the US strategic petroleum reserve.
While the administration claims the 65 billion barrels were secured at no cost to the American taxpayer, the exact structure of the agreement remains unclear. Earlier reports indicated the US was in advanced talks to take a direct stake in more than a dozen oilfields containing roughly 90 billion barrels of the country's most promising reserves.
The move has sparked severe backlash from Venezuela’s political opposition, who are already frustrated by the lack of genuine political change following Maduro's removal. One prominent opposition figure described the arrangement as "a massive land grab."
The unnamed critic called the situation "revolting," arguing it represents a stark departure from historical American foreign policy. "This is not the United States of the Marshall plan," the figure stated, calling the current administration "a rapacious, mafioso United States."
