Trump Announces US-Venezuela Oil Deal
The United States and Venezuela reached a new oil deal. President Trump announced the deal on Friday.
The deal gives the United States majority control of Venezuela's oil. It covers more than 65 billion barrels of proven reserves.
A private business partnership will manage the oil deal. Trump said American taxpayers will pay nothing for it.
He said the partnership will lower gas prices for Americans. Secretary of State Marco Rubio also spoke about the deal.
He said it could bring nearly $100 billion in investment. Rubio said the money could create jobs and rebuild Venezuela.
The deal follows a US military operation in Venezuela. That operation happened earlier in 2026.
It removed Venezuela's previous leadership. The deal is also part of a bigger US effort. Trump wants oil companies to return to Venezuela.
Key Terms 2
- Marco Rubio He is the US Secretary of State, a top government official.
- proven reserves Oil amounts confirmed to exist and be usable.