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Trump: Historic Venezuela Deal Will Bring Lower Gas Prices, Billions in Investment I OAN News I
Posted
August 31, 2026
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August 31, 2026
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2:54Now PlayingPresident Donald Trump is touting a historic oil deal with Venezuela, saying the agreement will benefit American consumers while helping rebuild Venezuela’s economy.
Trump says the U.S. will gain majority control of more than 65 billion barrels of proven Venezuelan oil reserves and plans to use the newly acquired oil to replenish America’s Strategic Petroleum Reserve.
The administration says the deal could help lower gas prices for Americans while bringing billions of dollars in private investment to Venezuela.
The agreement has also drawn criticism from Democrats, who argue the deal could put American lives at risk for private interests.
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