Trump touts sweeping U.S.-Venezuela oil deal granting U.S. equity in reserves

President Trump announced what he described as the biggest oil deal in world history with Venezuela, a public-private arrangement that would give the U.S. equity in oil fields with about 65 billion barrels of reserves and guaranteed off-take oil at cost. The deal, overseen by the Pentagon’s Office of Strategic Capital, is described as an equity arrangement rather than a purchase. Venezuela could gain roughly $100 billion in private investment and about $209 billion in additional tax revenue, while officials stressed ongoing negotiations and that details remain to be finalized. Rubio praised the deal as a win for both nations, and Rodriguez lauded the accord, though some officials had initially questioned its finalization.