President Donald Trump said the United States and Venezuela have reached a major oil agreement that would give Washington majority control over more than 65 billion barrels of Venezuela's proven oil reserves, in a deal he said would increase U.S.

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

Trump said the U.S. has established "majority" control over 65 billion barrels of oil in Venezuela, "at no cost to the American taxpayer."