President Donald Trump announced Friday that the United States has struck a major oil agreement with Venezuela, one he says would double the country’s crude oil reserves. Trump revealed the news on his social media platform, Truth Social, describing the arrangement as “the greatest oil deal in world history.”
Details of the agreement remain scarce. Trump did not specify the terms, the volume of oil involved, or how the deal would be implemented. As of this writing, Venezuelan officials in Caracas have not issued any public statement confirming or denying the announcement.
The news comes amid a long and complicated relationship between Washington and Caracas. Venezuela holds the world’s largest proven oil reserves, but years of US sanctions—imposed over concerns about democracy and human rights under President Nicolás Maduro’s government—have severely restricted the country’s ability to export crude to American markets. Any major deal would mark a significant shift in that dynamic, potentially reshaping US energy supplies and Venezuela’s oil-dependent economy.
A photo accompanying the announcement shows Trump alongside Venezuelan Vice President Delcy Rodríguez, suggesting high-level talks may have taken place, though this has not been officially confirmed by either government.
Given the scale of the claim and the lack of confirmation from Venezuelan authorities, questions remain about the deal’s scope and feasibility. To read the full report and follow further developments, check out the original story from El Tiempo.
Image: —=XEON=—, BY 3.0 (via Openverse).