Venezuela has the world's largest proven oil reserves, more than 303 billion barrels. ReutersShow caption: Venezuela has the world's largest proven oil reserves, more …President hails 'biggest oil deal in world history', saying it will lower gas prices for AmericansThe NationalAugust 29, 2026
Donald Trump has claimed the US is pursuing control of 65 billion barrels of Venezuelan crude oil in what he called the "biggest oil deal in world history."
The deal, reportedly focused on the Orinoco Belt and Lake Maracaibo regions, involves partnerships with private businesses, though no official details have been released.
Venezuela holds the world's largest proven oil reserves, exceeding 303 billion barrels — approximately 17 per cent of global supply.
The announcement follows Mr Trump's push for major oil companies to invest $100 billion in Venezuela after American operatives captured former President Nicolas Maduro in January.
