Trump: We signed with Venezuela 'the largest oil deal in history'

- Washington will secure majority control over more than 65 billion barrels

- US Secretary of State: The deal will bring $100 billion in private investments

US President Donald Trump announced on Friday the signing of an oil agreement with Venezuela, describing it as “the largest in history,” stating that it would grant the United States what he termed “majority control” over a significant portion of Venezuela’s proven oil reserves.

Trump said in a post on his platform “Truth Social” that the agreement would secure “American majority control over more than 65 billion barrels of proven oil reserves in Venezuela, at no cost to the American taxpayer.”

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He clarified that the “historic” deal would more than double US oil reserves, while significantly increasing oil supplies to the United States.

He added that the agreement would contribute to a tangible long-term reduction in fuel prices for Americans, in exchange for US assistance in helping Venezuela place its economy on a path he described as “tremendous success and great prosperity.”

Trump emphasized that the agreement resulted from “close” work with Venezuela’s interim president, Delcy Rodríguez, and in partnership with the private sector, noting that it would strengthen the growing relations between the two countries.

For his part, US Secretary of State Marco Rubio said the “historic” oil deal would bring $100 billion in private investments to Venezuela.

Rubio added in a post on the platform “X” that the deal represents a “huge win” for both the American and Venezuelan peoples, as it would provide Venezuela with nearly $100 billion in private investments, support thousands of high-paying jobs, and contribute to driving the process of economic reconstruction.

He pointed out that, in his view, the agreement reflects President Trump’s foreign policy approach under the “America First” principle, by securing stable supplies of low-cost oil in the Western Hemisphere and helping to lower fuel prices within the United States.