Trump Announces US Will Take Control of Venezuelan Oil Reserves

President Donald Trump announced a major oil deal with Venezuela, claiming the U.S. will take control of 65 billion barrels of the country's reserves Fortune. The agreement comes as U.S. gas prices remain high and crude stockpiles shrink. Trump posted the announcement on social media, marking a dramatic shift in U.S.-Venezuela relations.
Secretary of State Marco Rubio and Defense Secretary Pete Hegseth negotiated the deal with Venezuela's interim President Delcy Rodriguez ABC7. This follows a U.S. military operation nine months ago that captured Venezuelan President Nicolás Maduro and brought him to the U.S. to face drug trafficking charges. Venezuela holds about 303 billion barrels total — roughly 17% of the world's oil supply.
The U.S. faces rising gas prices and dwindling crude reserves, pushing Trump to act fast Fortune. By securing 65 billion barrels, the administration aims to stabilize domestic energy costs. This represents roughly 21% of Venezuela's total reserves and signals a major U.S. pivot toward Venezuela's vast oil wealth.
The pathway to this agreement began nine months earlier ABC7. U.S. forces launched a military operation to capture President Nicolás Maduro and extradite him for federal narcoterrorism and drug trafficking charges. With Maduro removed and an interim government in place, negotiations became possible.
Delcy Rodriguez now leads Venezuela as interim president WMAR2. She proved willing to negotiate oil access where Maduro had resisted. This shift in leadership directly enabled the breakthrough deal on U.S. terms.
Venezuela's 303 billion barrels represent the largest proven reserves outside the Middle East ABC7. That's 17% of global supply. For decades, this vast resource remained locked away due to U.S. sanctions and diplomatic tensions. Now, direct U.S. control changes the energy equation dramatically.
The 65-billion-barrel deal gives America a reliable long-term source KTNV. This reduces U.S. dependence on unstable Middle Eastern suppliers. It also strengthens America's global energy position and provides leverage in geopolitics.
Secretary of State Marco Rubio led diplomatic efforts Fortune. Defense Secretary Pete Hegseth managed military coordination. Both worked directly with Venezuela's interim President Delcy Rodriguez to hammer out terms. Trump announced the deal via social media, bypassing traditional diplomatic channels.
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