Trump Claims U.S. Struck Biggest Oil Deal in History With Venezuela
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Trump Claims U.S. Struck Biggest Oil Deal in History With Venezuela

Trump says the U.S. secured majority control of more than 65 billion barrels of Venezuelan oil reserves, crediting Marco Rubio and Pete Hegseth.

Richard Miniter
By
First Published: August 28, 2026, 6:56 PM ET

WASHINGTON D.C. — Donald J. Trump said the United States entered an agreement with Venezuela that he called the biggest oil deal in world history. Trump credited Secretary of State Marco Rubio and Secretary of War Pete Hegseth with securing what he described as majority U.S. control of more than 65 billion barrels of proven oil reserves.