Trump says U.S. has entered deal with Venezuela to control 65 billion barrels of its oil reserves - PBS
Trump says U.S. has entered deal with Venezuela to control 65 billion barrels of its oil reserves - PBS
Source: PBS
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DW NOTE
Trump claims Washington now controls 65 billion barrels of Venezuelan crude — roughly 10 times the U.S. Strategic Petroleum Reserve's design capacity. If it's a joint operating agreement, Caracas retains sovereignty and can renege the day oil sanctions return. If it's an actual transfer of title, Venezuela just sold its entire hydrocarbon endowment to escape collapse. Either way, this doesn't solve Hormuz — Venezuelan heavy crude requires specialized refining the U.S. Gulf Coast can provide, but global light sweet shortages remain acute.