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Trump says US has entered deal with Venezuela to take control of 65 billion barrels of oil reserves
WASHINGTON (AP) — President Donald Trump on Friday said the U.S. has entered an agreement with Venezuela to take control of 65 billion barrels of the South American country’s oil reserves.
GlobeSignal-AIlow certainty
- Why it matters
- If accurate, control of Venezuela's reserves would affect US energy supply and prices, and represents a significant shift in US-Venezuela relations after years of sanctions and tension.
- Most affected
- US consumers and businesses dependent on oil — Potential access to large crude reserves could eventually lower energy costs or improve supply certainty.
Venezuelan government and citizens — Loss of control over major national resource would reshape the country's economic and political position. - Likely next
- Whether the Venezuelan government confirms or denies the agreement, and whether details of the deal are made public.
Also reported by: CBS News, South China Morning Post, NBC News, PBS NewsHour, The Age, Brisbane Times, Fox 8 Cleveland, Sydney Morning Herald, KPRC 2, Local 4 Detroit, News4JAX, KSAT 12, UPI, WAtoday, ABC News