Trump says US will refill its petroleum reserves using Venezuelan oil

President Donald Trump announced that the United States will begin replenishing its Strategic Petroleum Reserve using oil from Venezuela. Trump stated on Truth Social that the "topping out" process will commence shortly, describing the Venezuelan oil as a "Gift from Venezuela to the People of the United States." He attributed the depletion of the reserve to former President Joe Biden. The US reserve is currently at a 44-year low, having been drawn down by both the Biden and Trump administrations. A 25-year deal with Venezuela aims to revive its oil industry, though the timeline for significant production increases and benefits to US motorists remains unclear. Venezuela's interim president stated the deal allows for industry development while preserving Venezuelan sovereignty over its resources.

President Donald Trump announced a new oil agreement with Venezuela's interim president, Delcy Rodríguez, stating the U.S. will gain "majority" control of 65 billion barrels of proven oil reserves. Trump claimed this deal, brokered through private business partnerships by his secretaries of state and defense, would secure majority U.S. control at no cost to taxpayers and more than double American oil reserves. While specific terms remain undisclosed, the agreement aims to increase U.S. oil supply and potentially lower gasoline prices ahead of midterm elections. This development follows reports of advanced talks for the U.S. to take a direct stake in Venezuelan oilfields.

President Donald Trump announced a deal granting the U.S. access to Venezuela's vast oil reserves, which he described as "THE BIGGEST OIL DEAL IN WORLD HISTORY." The agreement, negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuela's acting president Delcy Rodríguez, establishes a new private company with rights to 17 oil fields for 100 years, holding an estimated 65 billion barrels. The U.S. will receive 55% of the company's effective output through ownership and purchase rights, with oil intended for strategic reserves and the military. While Trump claims the deal will lower gas prices, experts caution that Venezuela's infrastructure requires significant investment and time for repair, making immediate price impacts unlikely. The terms of investment and who will bear the costs remain unclear, and some Venezuelans view the deal as a betrayal of national resources.

The United States has announced a deal to gain majority control over a substantial portion of Venezuela's oil reserves, reportedly amounting to over 65 billion barrels. This agreement involves 17 strategic oil fields and will see the US government partnering with a private business for extraction. President Trump stated the deal "MORE THAN DOUBLES American Oil Reserves," aiming to bolster declining US reserves. This development follows a period of escalating tensions between the US and Venezuela, culminating in the abduction and detainment of former President Nicolas Maduro in early 2026. Following Maduro's removal, Trump backed Delcy Rodriguez as interim president, and the US administration subsequently announced it would control Venezuela's oil exports. Critics have raised concerns about the legality of US intervention and the nature of the deal, with some analysts questioning the announced reserve figures.

President Donald Trump announced on Friday that the United States has reached an agreement with Venezuela to gain control of 65 billion barrels of the South American nation's oil reserves. Trump stated on social media that the deal was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuela's interim President Delcy Rodriguez. He described it as "THE BIGGEST OIL DEAL IN WORLD HISTORY!" The announcement follows a US military operation nine months prior to capture Venezuelan President Nicolas Maduro. This development occurs as President Trump faces pressure regarding high gasoline prices, with the war in Iran continuing without resolution. The article also notes that the US has depleted its strategic petroleum reserves significantly.

President Donald Trump announced that the United States has reached a deal with Venezuela to control over 65 billion barrels of its proven oil reserves. Trump stated this "historic transaction" would significantly increase American oil reserves and supply, potentially lowering gas prices for Americans. Venezuelan interim President Delcy Rodriguez described the agreement as beneficial for her country's economic revival, projecting nearly $100 billion in private investment and job creation. Secretary of State Marco Rubio also called it a "huge win" for both nations. The deal was reportedly reached through a partnership with private business, with Trump claiming it would incur no cost to American taxpayers. Specific details of the agreement have not yet been released.

President Donald Trump announced on Friday that the U.S. has entered an agreement with Venezuela to take control of 65 billion barrels of the South American nation's oil reserves. Trump stated the deal was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuela's interim President Delcy Rodriguez. This announcement follows a U.S. military operation to capture Venezuelan President Nicolás Maduro and comes amid pressure on Trump to address rising gas prices, exacerbated by the ongoing war in Iran. The U.S. has been drawing down its strategic petroleum reserves. Venezuela possesses vast, largely mapped oil reserves but produces minimally due to infrastructure issues. Details on the private partnership involved and how the arrangement will function were not provided.