Trump moves for US control of 65 billion barrels in Venezuela

President Donald Trump said the United States had secured majority control over more than 65 billion barrels of Venezuela’s proven oil reserves through a deal tied to private companies. The arrangement, described as covering about a fifth of Venezuela’s reserves, would mark a major expansion of US access to Venezuelan crude after weeks of talks with officials aligned with interim president Delcy Rodriguez. Venezuelan authorities are preparing agreements next week to grant new exploration and production rights, especially to US firms. Analysts said key details remain missing, including the legal structure, the fields involved and which companies would operate them. Venezuela holds the world’s largest proven reserves but produces about 1.25 million barrels a day.