Trump announces 'biggest oil deal in world history,' says it will substantially lower gas prices

Energy,The Americas,Donald Trump,Venezuela,Oil,Trump Administration,Latin America

Posted on AllSides August 30, 2026

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President Donald Trump announced a major oil agreement with Venezuela Friday, saying the U.S. has secured majority control of more than 65 billion barrels of the country's proven oil reserves.

"The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!" Trump wrote on Truth Social.

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