Trump announces 'largest oil deal in the world' with Venezuela
US President Donald Trump announced an agreement with Venezuela, calling it the 'largest oil deal in the world,' which grants US access to oil resources. Trump stated that his administration secured control over the majority of Venezuela's confirmed oil reserves, exceeding 65 billion barrels, at no cost to US taxpayers. The deal was reached under Trump's direction, with Secretary of State Marco Rubio and Secretary of War Pete Hegseth working with Venezuela's interim president, Delcy Rodríguez, and through a private-sector partnership.
Why it matters: This deal directly affects global energy markets and US energy security, a core theme of the briefing on geopolitical resource competition.