U.S. And Venezuela Reach Sweeping Oil Deal
Trump took to social media to say the agreement will double American oil reserves, boost oil supply, and bring down prices at the pump.
President Trump is calling a new sweeping agreement with Venezuela, “the biggest oil deal in world history.”
The deal would give the U.S. a stake in 17 Venezuelan oil fields holding an estimated 65 billion barrels of crude.
Venezuela controls over 300 billion barrels of crude reserves, around 20% of the world’s total. It’s the largest oil stockpile on the planet, exceeding even Saudi Arabia’s.
Trump took to social media to say the agreement will double American oil reserves, boost oil supply, and bring down prices at the pump.
Secretary of State Marco Rubio says this deal is a “huge win for both the American and Venezuelan people.” He says this will bring close to $100 billion in private investment to Venezuela’s economy.
