Donald Trump said the United States had secured access to more than 65 billion barrels of Venezuela’s proven oil reserves, describing it as the largest oil deal in history. He argued that the agreement would more than double US oil reserves, increase supply and reduce petrol prices, while strengthening relations with Venezuela’s interim government.

Trump said the deal followed the removal of Nicolás Maduro earlier in the year and involved interim president Delcy Rodríguez and private businesses, reportedly including US oil companies. Secretary of State Marco Rubio said it could bring nearly $100 billion in private investment to Venezuela, create thousands of jobs and support economic reconstruction; the article did not provide independently verified terms of the agreement.