Business

What we know about Trump’s deal giving US access to vast oil reserves in Venezuela

Venezuelans reacted with outrage and skepticism to an oil deal announced by President Donald Trump on Friday night that would give the United States a stake in Venezuela’s vast oil reserves. Aside from a social media post by Trump, the White House has said little…

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Venezuelans reacted with outrage and skepticism to an oil deal announced by President Donald Trump on Friday night that would give the United States a stake in Venezuela’s vast oil reserves. Aside from a social media post by Trump, the White House has said little about what he calls “the biggest oil deal in world history.” (AP Video shot by: Juan Arraez)

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A pedestrian walks past a mural featuring oil wells in Caracas, Venezuela, Saturday, Aug 29, 2026, a day after President Donald Trump announced a deal giving the United States a stake in Venezuela’s oil reserves. (AP Photo/Pedro Mattey)

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Flames rise from flare stacks at the Amuay refinery in Los Taques, Venezuela, Jan. 14, 2026. (AP Photo/Matias Delacroix, File)

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Venezuelans protest against President Donald Trump’s deal giving the United States a stake in Venezuela’s oil reserves in Caracas, Saturday, Aug 29, 2026. (AP Photo/Pedro Mattey)

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President Donald Trump speaks during an event to present the Congressional Space Medal of Honor to Artemis II crew members, Friday, Aug. 28, 2026, at Johnson Space Center in Houston. (AP Photo/Mark Schiefelbein)

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Venezuela’s acting President Delcy Rodríguez speaks during a press conference in Caracas, Venezuela, on July 2, 2026. (AP Photo/Pedro Mattey, File)

Original source: https://apnews.com/business

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