US Secures Control of 65 Billion Barrels of Venezuelan Oil Reserves
The United States has agreed to take control of 65 billion barrels of Venezuelan crude, a move that could reshape global energy markets amid shrinking domestic stockpiles and sustained geopolitical tensions.
President Donald Trump announced Friday that the United States has secured an agreement to take control of 65 billion barrels of Venezuela’s oil reserves. The arrangement was negotiated by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth alongside Venezuela’s interim President Delcy Rodriguez.
Trump detailed the development in a social media post, writing, “The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” This follows the January ouster of former Venezuelan President Nicolás Maduro, who was captured by the U.S. military to face federal narcoterrorism and drug trafficking charges.
The agreement arrives at a critical juncture for global energy markets. The ongoing war in Iran has now reached a six-month milestone without resolution, keeping upward pressure on crude prices.
Domestic buffers are also thinning. The United States has heavily tapped its strategic petroleum reserves to mitigate recent supply shocks. By early August, those stockpiles fell below 300 million barrels, representing a drawdown of more than 100 million barrels since the beginning of 2026.
Access to Venezuelan crude has been a stated priority for the administration since Maduro’s removal. Trump has previously argued that American energy firms were wronged when former President Hugo Chavez nationalized hundreds of foreign-owned assets decades ago.
While the theoretical prize is massive, practical extraction remains a formidable challenge. Venezuela holds an estimated 303 billion barrels of crude, accounting for roughly 17 percent of the global supply according to the U.S. Energy Information Administration.
Unlike frontier exploration zones, these subterranean reserves are already mapped and known to geologists. However, decades of dilapidated infrastructure have crippled the nation's output, limiting its current production to approximately one percent of global oil supply.
For investors and energy executives, the deal promises potential long-term volume but demands massive capital expenditure to revive production. The market will now watch closely for concrete operational timelines and the extent of U.S. corporate involvement in rebuilding Venezuela’s energy sector.
