U.S. and Venezuela Announce Major Oil Deal for Access to Vast Reserves

President Donald Trump announced a sweeping agreement with Venezuela that could grant the U.S. access to significant portions of the South American nation's untapped oil reserves at cost. The deal, reportedly negotiated by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth with Venezuela's acting President Delcy Rodriguez, aims to secure majority U.S. control over more than 65 billion barrels of proven oil reserves through a private partnership. This initiative is expected to help lower U.S. gas prices and replenish the strategic petroleum reserve.