WORLD_ What Are the Stakes for Canada After Trump’s US-Venezuela 65 Billion Barrel Oil Deal? ( Paul Rowan Brian - THE EPOCH TIMES )

THE EPOCH TIMES

What Are the Stakes for Canada After Trump’s US-Venezuela 65 Billion Barrel Oil Deal?

A pedestrian walks past a mural featuring oil wells in Caracas, Venezuela, on Aug 29, 2026, a day after President Donald Trump announced a deal giving the United States a stake in Venezuela's oil reserves. AP Photo/Pedro Mattey

Paul Rowan Brian
8/31/2026|Updated: 8/31/2026

U.S.President Donald Trump announced on Aug. 28 that the United States had reached what he called “the biggest oil deal in world history,” giving the United States majority control over the development of more than 65 billion barrels of Venezuela’s proven heavy crude reserves.

While oil-rich Venezuela remains significantly behind Canada in oil production after years of infrastructure neglect and political isolation, experts say the country’s potential return to the global oil market could increase pressure on Canada from its neighbour to the south and largest energy export customer.

Venezuelan interim President Delcy Rodríguez has said the deal will last 25 years, cover 17 oilfields, and target production of more than 1.5 million barrels per day.

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READ MORE: https://www.theepochtimes.com/world/what-are-the-stakes-for-canada-after-trumps-us-venezuela-65-billion-barrel-oil-deal-6081559?ea_src=frontpage&ea_med=section-1

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