Trump says Venezuela oil deal will lower US gas prices for years

Key Points:

• Venezuelan interim President Delcy Rodriguez hailed a 25-year oil agreement with the United States, aiming to develop 17 strategic oilfields and produce over 1.5 million barrels per day, while maintaining Venezuela's sovereignty over its resources.
• The deal, announced by former President Donald Trump, involves U.S. majority control of more than 65 billion barrels of Venezuela's proven oil reserves, described by Trump as the "biggest oil deal in world history."
• U.S. Secretary of State Marco Rubio called the agreement a "huge win" that will stabilize oil reserves, lower gas prices, and attract nearly $100 billion in private investment to Venezuela, supporting thousands of jobs.
• Rodriguez projected that the deal could generate over $200 billion in revenue for Venezuela and emphasized leveraging U.S. technology and capital to revive the country's oil industry impacted by sanctions.
• The agreement received positive feedback from industry experts like oil trader Phil Flynn, who highlighted its potential to sustain low oil prices for a generation and transform Venezuela’s oil sector with U.S. technology.