Trump announced a sweeping oil agreement with Venezuela covering fields with 65 billion barrels of proven potential and giving the US an effective 55% share of output from a new venture.

President Trump says his administration has entered a sweeping agreement with Venezuela that could give the U.S. access to vast amounts of the South American country's untapped…

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.

US president says US will have ‘majority’ control of 65bn barrels of proven oil reserves

The agreement would give the US control of 65 billion barrels of Venezuelan oil