Venezuelan Official Signs Agreement Affecting Oil Reserves

Why it matters locally: While Kansas does not directly import oil from Venezuela, global oil prices are influenced by such agreements, which can indirectly affect fuel costs for consumers and businesses across the state.

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Acting President Delcy Rodríguez signed an agreement last week. This agreement pertains to approximately one-fifth of Venezuela's oil reserves, which are the largest in the world. The agreement involves interests of the United States. Venezuelan oil reserves have been a subject of national discussion. The nation holds the largest proven oil reserves globally.