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U.S. Secures 65 Billion Barrels of Oil Reserves in Deal with Venezuela, Trump Announces

August 29, 2026

Source Summary

President Trump announced that the United States has secured 65 billion barrels of oil reserves through a deal with Venezuela. The agreement represents a significant energy security arrangement between the two countries.

Why it matters

Securing access to Venezuela's vast oil reserves could significantly impact U.S. energy independence and global oil supply dynamics.

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