United States and Venezuela Sign Major Energy Agreement Granting US Control Over Oil Reserves

The United States and Venezuela have signed a significant energy agreement, which grants Washington majority control over more than 65 billion barrels of Venezuela's proven oil reserves. Venezuelan President Delcy Rodríguez stated the deal would 'have a significant impact on the rebirth of our nation' and aims to increase crude output to 1.5 million barrels per day, while preserving Venezuela's sovereignty over its natural resources. This strategic move also involves President Trump's announcement to replenish the U.S. Strategic Petroleum Reserve using Venezuelan crude oil.