President Donald Trump announced a major oil agreement with Venezuela that he claims grants the United States majority control over 65 billion barrels of crude reserves. According to statements published on Truth Social, Trump described the arrangement as the largest oil deal in world history, asserting that it will more than double the total oil reserves of the United States. The accord was reached in consultation with Venezuela’s acting president, Delcy Rodríguez, and involves private sector participation, though specific operational details remain unfinalized.
Trump Claims Control Over 65 Billion Barrels in Venezuela Deal
Caracas Operation Preceded the Energy Pact
The announcement follows a January military operation in Caracas where U.S. forces detained former Venezuelan president Nicolás Maduro. Maduro was transported to New York, where he currently remains in custody facing federal charges related to narco-terrorism. In the months following the operation, the U.S. administration applied sustained pressure on the capital to open its energy sector to foreign participation and pushed domestic energy corporations to invest in local infrastructure.
Industry Caution Meets Decaying Infrastructure
Industry stakeholders, however, have voiced caution regarding the viability of immediate production increases. Major U.S. energy companies previously maintained a reserved stance toward Venezuelan assets, citing decades of deterioration in local infrastructure and a history of foreign asset expropriations under previous administrations. According to global energy data, Venezuela holds the world’s largest certified petroleum reserves at over 303 billion barrels, yet current output lingers at approximately 1,25 million barrels per day due to prolonged economic mismanagement and international sanctions.
Tight U.S. Reserves Drive External Supply Push
At the same time, domestic energy metrics show the United States operating under tight supply buffers.
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