Trump Seeks U.S. Control of Venezuelan Oil

President Donald Trump touted a deal granting the United States majority control of Venezuela’s 65 billion barrels of oil, calling it the largest oil agreement in world history. Analysts cautioned the arrangement will not immediately lower gasoline prices, noting much of the oil remains in the ground and infrastructure investment is needed. The pact includes a 35% passive U.S. stake in North American Blue Energy Partners, led by Venezuelan businessman Alejandro Betancourt, with rights to buy up to 20% of production at cost. Venezuela’s interim President Delcy Rodríguez described a 25-year bilateral project targeting 17 strategic oilfields and more than 1.5 million barrels per day. Critics in Congress warned the deal could expose American personnel, while others argued it could stabilize markets and support long-term prices. White House officials offered limited timetable and cost details, keeping the deal's mechanics under active discussion.