Trump Secures 65 Billion Barrels Oil Deal with Venezuela

Published on 8/28/2026

Trump Secures 65 Billion Barrels Oil Deal with Venezuela

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President Donald Trump announced a deal for the U.S. to gain majority control of over 65 billion barrels of oil reserves from Venezuela. This agreement, which Trump claimed would come at no cost to U.S. taxpayers, follows a January attack that resulted in the capture of Nicolás Maduro. The U.S. oil reserves are now reportedly more than doubled, amid average U.S. gas prices reaching $4.09 per gallon, a 27% year-over-year increase. This deal aims to alleviate rising gas prices for consumers and is significant as Trump approaches midterm elections, potentially impacting voter sentiment.

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