US and Venezuela strike oil deal, critics decry resource grab
The United States announced an agreement with Venezuela's interim government to take majority control of 65 billion barrels of proven oil reserves. Details remain scarce, but the deal involves 17 strategic oil fields and has drawn criticism as a takeover of Venezuela's resources. Analysts question the announced figure and the motivations behind the announcement.
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The agreement, announced Friday, grants the US majority control over 65 billion barrels of Venezuelan oil, involving 17 strategic fields with a private US partner slated for extraction. Trump hailed it as the largest oil deal in history, claiming it would more than double American reserves. However, analysts like Rory Johnston dismiss the
Expanded detail and Context are AI-generated analysis; the linked article remains the authoritative source.
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Original headline: “What’s behind the US deal to seize control of Venezuelan oil reserves?.” Browse more stories.