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US secures majority control of Venezuela's 65B barrels in historic oil deal, boosting reserves and lowering gas prices.

Market News
29 Aug 2026
Fox Business
View Source
Bullish
pluang ai news

President Donald Trump announced a historic oil agreement with Venezuela, granting the US majority control over more than 65 billion barrels of Venezuela's proven oil reserves. The deal, facilitated by key officials and private businesses at no cost to American taxpayers, aims to double US oil reserves, increase supply, and reduce gas prices. It includes $100 billion in private investment to develop 17 strategic oil fields, supporting Venezuela's economic recovery and energy security in the Western Hemisphere. The agreement is expected to create thousands of jobs and stabilize oil markets.

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