Trump announces deal for huge US stake in Venezuelan oil reserves

President Donald Trump announced on Friday a sweeping agreement with Venezuela giving the United States majority control over 65 billion barrels of proven oil reserves. Hailed by Trump as the "biggest oil deal in world history," the pact aims to boost US supplies, fill the depleted Strategic Petroleum Reserve, and lower domestic gas prices.

The deal was brokered by US Secretary of State Marco Rubio and Defense Secretary Pete Hegseth alongside Venezuela's interim leader Delcy Rodrígue. The announcement arrives as the administration faces voter pressure over high gas prices driven by the ongoing war in Iran.