Trump announces a deal giving the United States control of 65 billion Venezuelan barrels
On 28 August 2026 Donald Trump announced a deal with Caracas covering, according to both governments, 17 fields with a proven potential of 65 billion barrels and an expected $100 billion in investment. Axios, which had revealed the talks the day before, puts the figure at 90 billion barrels across a dozen fields. The US strategic reserve is at a forty-year low.