Trump Claims ‘Biggest Oil Deal’ Ever: Venezuelan Crude Set to Refill US Strategic Reserve
Trump has announced a major oil agreement with Venezuela, saying Venezuelan crude will help replenish the US Strategic Petroleum Reserve (SPR), which remains near a 44-year low. Trump has called it the “biggest oil deal in world history,” while Venezuela says the agreement could attract around $100 billion in investment and unlock the development of 17 oil fields. However, questions remain over the deal’s ownership structure, private partners and timeline. Experts also warn that Venezuela’s damaged oil infrastructure means the agreement may not quickly reduce US gasoline prices. The deal has sparked political opposition in both Venezuela and Washington.
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