US strikes deal for 65 billion barrels of Venezuelan oil reserves
US President Donald Trump announced that the US had secured majority control over more than 65 billion barrels of Venezuela’s oil reserves. A joint company comprising the US government and a Venezuelan private operator will receive a 100-year lease to develop 17 oil fields. Critics across Venezuela’s political spectrum questioned the agreement's legality and warned it could undermine Venezuelan sovereignty.
Why it matters: This deal reflects the theme of energy geopolitics, as the US expands its influence over Venezuela's oil industry following Maduro's ouster.