President Donald Trump has revealed a significant oil agreement, which he termed the “biggest oil deal in world history.” According to Trump, the United States has acquired majority control of over 65 billion barrels of proven oil reserves in Venezuela through a partnership involving the Venezuelan government and private-sector businesses.

In a post on Truth Social, Trump stated that this agreement would not cost American taxpayers, would more than double U.S. oil reserves, and would help reduce gasoline prices. He credited Secretary of State Marco Rubio and Defense Secretary Pete Hegseth with negotiating this deal alongside Venezuelan interim President Delcy Rodríguez, describing it as a historic move to enhance relations between the two nations.

Marco Rubio shared on X, “This deal is a tremendous benefit for both Americans and Venezuelans. It exemplifies President Trump’s impactful foreign policy, securing stable reserves and affordable oil in our Hemisphere and lowering gas prices at home. For Venezuelans, the deal promises nearly $100 billion in private investment, the creation of thousands of high-paying jobs, and support for Venezuela’s economic reconstruction.”

BREAKING NEWS: The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY! At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, and, through a partnership with private business, have secured majority U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer. 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! Thank you for your attention to this groundbreaking matter. MAKE AMERICA GREAT AGAIN! President DONALD J. TRUMP.

Newsweek attempted to obtain further information from the State Department on Friday evening regarding this development.