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Trump says U.S. has entered deal with Venezuela to take control of 65 billion barrels of oil reserves

President Trump says his administration has entered a sweeping agreement with Venezuela that could give the U.S. access to vast amounts of the South American country's untapped oil reserves, at cost.

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Trump says U.S. has entered deal with Venezuela to take control of 65 billion barrels of oil reserves
Source: NPR News
President Trump waves after arriving off Air Force One, Friday, Aug. 28, 2026, at Joint Base Andrews, Md.

President Trump says his administration has entered a sweeping agreement with Venezuela that could give the U.S. access to vast amounts of the South American country's untapped oil reserves, at cost.

(Image credit: Mark Schiefelbein)

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