Major Oil Agreement Signed Between US and Venezuela
President Trump announced that majority control over Venezuela's massive reserves has been secured, stating that gasoline prices will drop.
US President Donald Trump announced that a major agreement has been reached with Venezuela, securing majority control of the country's proven massive oil reserves.
Details of the Historic Agreement
US President Donald Trump stated that the move with Venezuela is the largest oil agreement in world history.
It was specifically emphasized that this agreement imposed no costs on American taxpayers.
Reserves and Investment Plan
The agreement aims to control more than 65 billion barrels of oil reserves and develop 17 strategic fields.
More than one hundred billion dollars in private investment is expected to be drawn to Venezuela, creating thousands of high-paying jobs.
Statements from Officials
Secretary of State Marco Rubio and Venezuelan acting president Delcy Rodriguez stated that the agreement will benefit both countries.
Officials expressed that this move will lower gasoline prices in the long term and support the economy.