You would think the biggest oil deal in world history would start with a handshake. Instead, it starts with a claim that the reserve is empty. On Sunday, President Donald Trump stated that Venezuelan oil would refill the Strategic Petroleum Reserves. The reserves hit a 40-year low just two weeks ago. Now, the President says a “topping out” process will begin very shortly. He refers to this arrangement as a “Gift from Venezuela to the People of the United States”, according to the Washington Times.
This move follows a massive shift in power down south. The U.S. assumed control after a military operation in January. That operation saw dictator Nicolas Maduro captured by U.S. forces and brought to America. He now faces narcoterrorism charges in New York. Majority U.S. control over more than 65 BILLION BARRELS of proven Oil Reserves is guaranteed by the deal. Trump said this was secured “at no cost to the American Taxpayer.”
SECURING AMERICA’S ENERGY FUTURE.
President Trump secures access to more than 65 BILLION barrels of oil reserves in Venezuela – the biggest oil deal in world history.
⚡ Stable, low-cost energy
🇺🇸 American energy dominance
🌎 Stronger energy supply in our hemisphere
💰 ZERO… pic.twitter.com/X5rdQOcmnl— The White House (@WhiteHouse) September 1, 2026
The details of this partnership are specific and bold. Secretary of State Marco Rubio and Secretary of War Pete Hegseth led the talks. They worked with Delcy Rodriguez, who is now the Highly Respected Interim President of Venezuela. Rodriguez affirmed the deal on Saturday. She said the energy agreement would remain in force for 25 years. The goal is a production target of more than 1.5 million barrels per day.
The U.S. government will keep 55 percent control of a joint venture under the agreement. A U.S. official told CBS News this involves an experienced private operator. The Washington Examiner says the South American country has the largest oil reserves in the world. Estimates put the total at 303 billion barrels of heavy crude. This comes after the industry stagnated under Maduro’s socialist reign.
Why does this matter to your family budget right now? Domestic gas prices are up. The national average price for gasoline was $4.08 this week. That is up from about $3.21 a year ago. Trump blames the high prices on the previous administration. He noted the reserve was “virtually emptied” by Sleepy Joe Biden. During his term, releases ordered by Biden resulted in a 42% drop.
According to reports, this Historic Transaction will significantly reduce Gas Prices for all Americans. He claims it will do so long into the future. The Department of Energy said levels fell by 6.1 million barrels in August. The total sat at 298.7 million barrels. This was the lowest level in 44 years. The deal aims to fix that gap quickly.
The timing is tight for the upcoming election. Domestic gas prices have surfaced as a roadblock for Republicans. Midterm elections are almost two months away. Trump says the new supply will help secure votes. He posted the news on Truth Social two days after the Friday announcement. He described the arrangement in all-capital letters as “The biggest oil deal in world history!”
There is one number nobody would confirm: the exact start date for the oil flow. Trump says the process begins very shortly. The deal lasts 25 years. The question every person in that room went home still asking is simple. Can this much oil really fix the price at the pump before November?
