US enters into oil agreement with Venezuela, Trump says

US President Donald Trump announced on Friday that the United States has entered into an oil agreement with Venezuela. This deal, orchestrated by Secretary of State Marco Rubio and Secretary of War Pete Hegseth in cooperation with Interim President Delcy Rodriguez and private businesses, grants the US majority control over more than 65 billion barrels of Venezuelan oil reserves. Trump stated that this agreement, secured "at no cost to the American Taxpayer," would significantly increase American oil reserves. The Trump administration has been seeking to stabilize the flow of Venezuelan crude to US refineries and encourage American investment in Venezuela's energy sector since the removal of former President Nicolas Maduro in January. This move comes amid pressure to address rising gasoline prices ahead of midterm elections and efforts to replenish the Strategic Petroleum Reserve.