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Trump Announces 'Biggest Oil Deal in World History' with Venezuela

deccanchronicle.com · DistrictNews · 2026-08-29

Trump Announces 'Biggest Oil Deal in World History' with Venezuela

Trump Announces 'Biggest Oil Deal in World History' with Venezuela. Trump faces mounting pressure to address high gas prices as the war in Iran reaches a six-month milestone with no conclusion in sight. Venezuela has one of the largest oil reserves in the world, with an estimated 303 billion barrels of crude oil in the ground. That's about 17 per cent of the world's supply, according to the US Energy Information Administration.

Why it matters. Why it matters: Trump Announces 'Biggest Oil Deal in World History' with Venezuela.

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