The United States has reached an agreement with Venezuela concerning oil reserves. This deal involves taking control of sixty-five billion barrels of the nation's oil. Secretary of State Marco Rubio announced the agreement, calling it historic. The pact aims to bring private investment and lower gas prices. This development occurs amidst ongoing global oil supply concerns.

The U.S. struck a deal with Venezuela to get majority control of more than 65 billion barrels of oil reserves, Trump said in a social media post.

President Donald Trump says the U.S. has entered an agreement with Venezuela to take control of 65 billion barrels of the South American country’s oil reserves