Donald Trump says Venezuela oil deal "MORE THAN DOUBLES American Oil Reserves"
“This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity. This Transaction will greatly strengthen the already growing relationship between Venezuela and the United States!”
Reported August 29, 2026 by iheart.com. Checked word for word against that report.
After returning from a Houston trip, President Trump announced Friday that the U.S. had reached an oil agreement with Venezuela, giving American interests majority control of more than 65 billion barrels of Venezuelan reserves. In a Truth Social post, Trump said Secretary of State Marco Rubio, Pete Hegseth, and Venezuelan interim president Delcy Rodriguez worked with private business to secure the deal at no cost to taxpayers. Trump claimed the arrangement would roughly double U.S. oil reserves, expand supply, and keep gasoline prices lower for Americans over time, while also helping Venezuela and strengthening ties between the two countries. The announcement is significant because it could affect U.S. energy capacity and relations with Venezuela, though those projected benefits are Trump’s assertions.
- iheart.com ↗︎29 AUG 2026