US_ US–Venezuela Deal Could Shake Up Global Oil Markets ( Emel Akan - THE EPOCH TIMES )

THE EPOCH TIMES

US–Venezuela Deal Could Shake Up Global Oil Markets

Washington would gain majority control of a new oil venture, making it the world’s second-largest holder of proven reserves after Saudi Aramco.

President Donald Trump walks with U.S. Secretary of State Marco Rubio near the South Lawn of the White House in Washington on March 20, 2026. Brendan Smialowski/AFP via Getty Images

Emel Akan
Senior Reporter
8/30/2026|Updated: 8/30/2026


A new deal with Venezuela that gives the United States majority control of more than 65 billion barrels of proven oil reserves is expected to reshape global oil markets and give Washington significant control over oil prices.

U.S. President Donald Trump described the pact as “the biggest oil deal in world history.”

Although many details remain unclear, here is what has emerged so far and how observers are responding to the deal announced on the evening of Aug. 28.

Inside the Financial Structure of the Deal

...

READ MORE: https://www.theepochtimes.com/us/us-venezuela-deal-could-shake-up-global-oil-markets-6081277?ea_src=frontpage&ea_med=section-1

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