P. Choiaqo

Published August 29th, 2026 - 15:02 GMT

This combined image shows US President Donald Trump (L) and Venezuelan acting president Delcy Rodriguez (R). Photo by ANDREW CABALLERO-REYNOLDS / AFP

ALBAWABA - U.S. President Donald Trump, feeling the pressure to lower prices, has signed an oil deal with Venezuela, effectively giving the U.S. access to 65 billion barrels of oil reserves.

Also ReadThe U.S.–Venezuela Oil Agreement: Implications for Global and Middle Eastern Oil Markets