Trump claims he doubled US oil reserves with Venezuela deal

Washington says it has secured majority control of over 65 billion barrels at no cost to US taxpayers US President Donald Trump has announced what he called the “biggest oil deal in world history,” claiming an agreement with Venezuela has given Washington majority control over more than 65 billion barrels of proven crude reserves.Secretary of State Marco Rubio and Secretary of War Pete Hegseth had worked with Venezuelan interim leader Delcy Rodriguez and private businesses to secure “majority US control” of the reserves “at no cost to the American Taxpayer,” Trump wrote on Truth Social on Friday.“The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” the US president declared. Trump claimed the transaction “MORE THAN DOUBLES American Oil Reserves,” would substantially increase supplies and eventually lower gasoline prices.The latest US Energy Information Administration figures put American proved crude oil and lease condensate reserves at around 46 billion barrels. Adding the 65 billion barrels covered by the Venezuela deal would bring the total volume under some form of US control to more than 111 b...