President Donald Trump claimed Friday night that the United States has reached what he called a historic energy agreement with Venezuela, describing it in a Truth Social post as “THE BIGGEST OIL DEAL IN WORLD HISTORY.”
According to Trump, the agreement gives the United States “majority U.S. control” over more than 65 million barrels’ worth of Venezuelan oil reserves. He said the deal would more than double American reserves and “substantially lower Gas Prices for all Americans.”
Trump Credits U.S. Officials and Venezuela’s Interim Government
Trump credited Secretary of State Marco Rubio, Secretary of War Pete Hegseth, Interim Venezuelan President Delcy Rodriguez and “a partnership with private business” for the agreement.
In a second Truth Social post, Trump again described the agreement as “the biggest oil deal, by far, in World history!”
The president also said the deal would strengthen what he called the “already growing relationship” between the United States and Venezuela.
Venezuela’s Oil Reserves at Center of U.S. Push
The announcement follows Trump’s stated interest in Venezuela’s oil reserves after the reported capture of Nicolas Maduro in January 2026. Venezuela holds the world’s largest oil reserves, with close to 303 billion barrels of crude oil, according to the source material.
Days after Maduro’s capture, Trump said American oil companies would invest “at least $100 billion of their money” to support major infrastructure construction. He also said Venezuela had agreed that the United States would refine and sell 50 million barrels of crude oil, an arrangement he said “will continue indefinitely.”
Later that month, Venezuela’s interim government opened the country’s oil sector to private business. Rodriguez described that move as “a generational reset.”
