Trump Announces U.S.-Venezuela Oil Deal Covering 65 Billion Barrels of Reserves

President Trump said Aug. 28, 2026 that the U.S. reached a deal with Venezuela giving America 55% of output from a new private company with 100-year rights to develop 65 billion barrels of proven oil reserves. Trump called it "the biggest oil deal in world history." Experts said raising production will take years and billions in investment.