Trump Announces US Control of 65 Billion Barrels of Venezuelan Oil

Key facts

• President Donald Trump announced a deal giving the United States majority control of more than 65 billion barrels of Venezuela's proven oil reserves.
• The agreement involves a partnership with private business and comes at no cost to American taxpayers.
• Trump stated the deal would more than double US oil reserves and substantially lower gas prices.
• The announcement follows weeks of negotiations and occurs after the removal of former Venezuelan President Nicolás Maduro in January.