Trump Announces 65-Billion-Barrel Oil Deal With Venezuela to Cut Global Prices

US President Donald Trump has announced a major oil agreement with Venezuela covering 65 billion barrels of oil. The deal is intended to lower global energy costs and significantly boost Venezuela's oil output over time. Trump also framed the agreement as part of broader US strategic interests in the Western Hemisphere. However, energy experts caution that immediate price reductions are unlikely, citing the infrastructure investments required before production can meaningfully increase.