Source: Fortune.com
Summary
President Donald Trump announced an agreement with Venezuela to take control of 65 billion barrels of the country’s oil reserves, according to a social media post. The deal, said to be negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuela’s interim President Delcy Rodriguez, was described by Trump as “the biggest oil deal in world history.” The announcement follows the U.S. military’s operation to capture Venezuelan President Nicolás Maduro in January 2026. Trump has faced pressure to address rising gas prices as U.S. strategic petroleum reserves have dropped below 300 million barrels.
Our Reading
The numbers tell one story.
Trump claims control of 65 billion barrels of Venezuelan oil.
Deal reportedly negotiated by top officials and Venezuela’s interim leader.
Announced amid rising gas prices and depleted reserves.
Historical claims of stolen oil resurface as a justification.
Author: Evan Null
Trump’s Oil Play
President Donald Trump has once again positioned himself as a dealmaker, this time with a claim that the U.S. has secured control over 65 billion barrels of Venezuelan oil. The announcement came via social media, a platform Trump has frequently used to bypass traditional media and speak directly to his base. The claim, while bold, lacks the usual details of a formal treaty or legal framework, raising questions about its legitimacy.
The deal was reportedly negotiated by key members of Trump’s administration, including Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, alongside Venezuela’s interim President Delcy Rodriguez. This mix of U.S. officials and a Venezuelan political figure suggests a complex diplomatic maneuver, though it remains unclear how this agreement would be enforced or recognized internationally.
Trump’s announcement follows the U.S. military’s operation to capture Venezuelan President Nicolás Maduro in January 2026. That move, which saw Maduro transported to the U.S. to face charges, was a major geopolitical event. Now, Trump is leveraging that moment to push a narrative of U.S. dominance over Venezuela’s vast oil resources, a move that could have significant implications for global energy markets.
Despite the U.S. having tapped its strategic petroleum reserves, which have fallen below 300 million barrels, Trump’s focus on Venezuela’s oil reserves suggests a long-term strategy to secure energy independence. However, the country’s infrastructure challenges mean that actual production from these reserves may be limited, at least in the short term.
Experts note that Venezuela holds about 17% of the world’s oil reserves, but its production is only about 1% of global output due to aging infrastructure. This discrepancy highlights the gap between resource potential and actual production, a challenge that any new U.S. involvement in Venezuela’s oil sector would need to address.
