President Donald Trump said the United States and Venezuela have reached a deal that would give the U.S. majority control of billions of barrels in Venezuela’s oil reserves and lower gas prices.

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President Trump says the United States has reached an agreement with Venezuela to take control of 65 billion barrels of oil at no cost to American taxpayers. Secretary of State Marco Rubio calls it a “huge win” for both American and Venezuelan people.

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The US is poised to gain majority control of a vast share of Venezuela’s oil wealth in an unprecedented arrangement, officials say. The move would create the world’s second-largest private oil company by reserves and secure American petroleum supplies for decades, according to the excerpt.

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Venezuelan President Delcy Rodriguez says the US-Venezuela oil cooperation agreement covers 17 strategic fields with proven reserves of 65 billion barrels. It envisages more than $100 billion in investment and over $209 billion in state tax revenue, while contributing to economic growth, hemispheric energy security and greater market balance. Donald Trump said the deal gives the US majority control of those reserves.

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Donald Trump says the US will take control of 65bn barrels of Venezuelan oil, adding that a joint venture between the two countries will lower petrol prices for Americans.

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President Donald Trump says the US has agreed with Venezuela to control a majority of more than 65 billion barrels of its proven oil reserves. He says the transaction will expand America’s oil supply and lower gas prices. Secretary of State Marco Rubio called it a “huge win” for both countries, while details remain undisclosed.

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President Donald Trump said the United States has reached an oil agreement with Venezuela. He said the move would more than double U.S. oil reserves, increase supply and lower gas prices.

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President Donald Trump said Friday that the United States had reached an agreement with Venezuela to take control of the country’s 65 billion barrels of oil reserves.

Donald TrumpVenezuelaoil deal

Donald Trump announced a new oil agreement with Venezuela, saying the US would gain “majority” control of more than 65bn barrels of proven reserves. Marco Rubio called it a major win for both countries, while a Venezuelan opposition figure denounced the deal as a “massive land grab.”

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U.S. President Donald Trump said Friday that his administration had reached a sweeping agreement with Venezuela. If carried out, the deal could give the U.S. access, at a cost, to vast quantities of the South American country’s untapped oil reserves.

United StatesVenezuelaoil deal

US President Donald Trump said Washington and Caracas had agreed for the United States to take control of 65 billion barrels of Venezuelan oil without cost to US taxpayers. He said the deal was negotiated by Marco Rubio, Pete Hegseth and interim Venezuelan President Delcy Rodriguez, calling it the biggest oil deal in world history.

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President Donald Trump said the United States reached an agreement with Venezuela giving Washington majority control of more than 65 billion barrels of the country’s proven oil reserves. He called it the biggest oil deal in world history and said it would expand US supplies and lower gasoline prices.

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President Donald Trump says the United States has reached an agreement with Venezuela to take control of 65 billion barrels of the South American country’s oil reserves.

Donald TrumpVenezuelaoil reservesUS-Venezuela relations

Trump announced a deal with Venezuela to secure more than 65 billion barrels of oil reserves.

Donald TrumpVenezuelaoil reserves

U.S. President Donald Trump said on Friday that the United States had entered into an oil agreement with Venezuela.

United StatesVenezuelaoil agreement

Venezuela’s interim President Rodriguez and US Energy Secretary Wright tour oil facilities as the two countries enter what is described as the “biggest oil deal in world history.”

United StatesVenezuelaoil deal

Federal Reserve Chair Kevin Warsh warned that inflation is not slowing meaningfully. He said policymakers must be confident that it is; otherwise, the central bank still has “work to do,” while pledging to reach its 2% target.

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Fed Chair Kevin Warsh delivered highly anticipated remarks on Friday morning at the Kansas City Fed’s annual symposium, saying more work remains on inflation.

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Investors worldwide are looking to Federal Reserve Chair Kevin Warsh for more detail on the economy, recent bond-market volatility and risks to the U.S. and global outlook as inflation concerns grow.

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Live coverage of the Jackson Hole Fed meeting is underway, followed by a live Q&A with journalists at 2:30 p.m. EDT for audience questions.

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Markets are awaiting a much-anticipated speech by Federal Reserve Chairman Kevin Warsh after recent volatility in bond yields.

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Federal Reserve Chair Kevin Warsh is due to address international economists and central bankers on Friday. Investors worldwide will look for more detail on the economy, recent bond-market volatility and risks to the U.S. and global outlooks.

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