Trump Announces U.S. Majority Control of Venezuelan Oil

President Trump announced a deal with Venezuela that would grant the United States majority control of more than 65 billion barrels of proven oil reserves. He said it would lower U.S. gasoline prices and would be accomplished at no cost to taxpayers through a partnership with private organizations and coordination with Venezuela’s interim leader Delcy Rodríguez. Venezuelan officials signaled long-term access to oilfields and private investment, with reports suggesting a lease-style model and signings next week, though the exact structure and participating fields remain unclear. Analysts note legal and constitutional questions in Venezuela about state control of key oil activities that could complicate or constrain the deal. The announcement comes amid broader energy-market volatility and is framed as boosting U.S. energy security while aiding Venezuela’s economic revival, though details and feasibility are still developing.