White House Announces Major Venezuelan Oil Investment Deal

The White House announced that President Donald Trump has secured a significant deal with a private company for oil operations in Venezuela. The privatization and investment agreement, signed by Secretary of State Marco Rubio and Secretary of War Pete Hegseth on Wednesday, grants the U.S. majority control of over 65 billion barrels of proven oil reserves in Venezuela. The administration stated that this deal will vastly expand U.S. territorial proven reserves, bolster oil supply, and help deliver lower gas prices for Americans, with material production expected as early as next year.