Venezuela says its energy agreement with the United States will run for 25 years and target production of 1.5 million barrels per day. Rodriguez outlined details of the deal.

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Venezuelan interim President Delcy Rodriguez said on Saturday that the energy agreement with the United States would remain in force for 25 years. She said it aims to raise crude production to 1.5 million barrels per day while preserving Venezuela’s sovereignty over its natural resources.

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Venezuela's interim President Delcy Rodriguez said the energy agreement with the United States would remain in force for 25 years, aim to raise crude production to 1.5 million barrels per day and preserve Venezuela's sovereignty over its natural resources. She called it a “historic” deal that could revive the economy and increase government revenues.

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The US says it has reached a deal with Venezuela’s interim government giving Washington majority control over 17 strategic oil fields and more than 65 billion barrels of proven reserves. Details remain unclear, critics call it a takeover of Venezuela’s resources, and analysts question the oil figure announced by Trump.

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Several questions about the U.S. agreement to develop Venezuela’s vast oil reserves remain unanswered, and a rapid, large-scale production increase appears unlikely. Experts warn that higher Venezuelan exports would compete directly with Canadian crude in the U.S. Gulf Coast market.

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President Donald Trump announced on Friday an unprecedented US effort to take control of one-fifth of Venezuela’s vast oil reserves. He is betting American companies can revive the OPEC member’s battered energy sector while adding crude supplies to help lower US fuel prices.

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Donald Trump says the US has reached a deal to control 65 billion barrels of Venezuela’s oil reserves. He has long been open about wanting the US to secure Venezuelan oil and has urged oil companies to invest in the South American country.

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US President Donald Trump says the United States and Venezuela have reached the “biggest oil deal in world history,” giving Washington control of 65 billion barrels of Venezuelan oil. Critics describe the agreement as predatory.

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Bloomberg News Now covers Trump’s statement that the US has secured some Venezuelan oil reserves, along with remarks by Warsh and other top stories. The report is updated throughout the day and focuses on global business news.

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Bloomberg News Now highlights Donald Trump’s statement that the US has secured some Venezuelan oil reserves, remarks by Warsh, and other leading stories. The audio report is updated throughout the day with global business news.

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Donald Trump says the United States has secured majority control of more than 65 billion barrels of Venezuela’s proven oil reserves in a deal intended to revive the country’s energy industry and increase crude supplies to US refineries. The arrangement could bring about $209bn to Venezuela’s treasury, but its structure and implementation remain undisclosed and may face legal and constitutional challenges.

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US Secretary of State Marco Rubio said an oil agreement with the United States could help Venezuela attract about $100 billion in private investment and support the reconstruction of its economy. He said the deal would also secure stable, low-cost oil reserves for the US and help lower gas prices. Trump had earlier announced majority US control of more than 65 billion barrels of Venezuela’s proven reserves.

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Six months into the conflict, it is becoming clearer who is benefiting and who is suffering greater damage in the energy sector.

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Warsh’s Jackson Hole speech could shape expectations about Federal Reserve support for Treasury buybacks, with potential consequences for bitcoin, gold and long-term yields.

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Rae Wee looks ahead to the day in European and global markets as Warsh heads into the Jackson Hole hot seat.

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Oil flows through the Strait of Hormuz are increasing.

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The Trump administration is discussing with Venezuela’s interim government whether to take an ownership stake in the South American country’s oil resources, Axios reported on Thursday, citing two U.S. officials.

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Trump administration officials are negotiating an agreement that would give the United States long-term access to part of Venezuela’s crude reserves, according to people familiar with the talks. The United States is overseeing Venezuela’s oil exports.

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The United States is negotiating with Venezuela over taking a large stake in the country’s oil fields. The move is framed as a dramatic Trump administration effort to extend its influence over the post-Maduro government and Venezuela’s vast energy reserves.

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