Trump Announces Venezuela Oil Reserve Agreement
President Trump stated Friday his administration reached an agreement with Venezuela. He described the deal as a "sweeping agreement" that could provide the United States with access to a significant portion of Venezuela's undeveloped oil reserves. Trump indicated the agreement encompasses 65 billion barrels of oil.
President Trump announced an agreement with Venezuela on Friday, August 28, 2026. He stated the agreement would grant the United States access to 65 billion barrels of Venezuela's oil reserves. Trump indicated the United States would acquire this oil at cost.
He characterized the arrangement as a "sweeping agreement." The President made the announcement after arriving off Air Force One at Joint Base Andrews, Md. The stated volume of 65 billion barrels represents a portion of Venezuela's undeveloped oil reserves.
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