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Oil Agreement Between the U.S. and Venezuela: Details and Expectations

An agreement between the U.S. and Venezuela promises over 65 billion barrels of oil, but questions remain about its implementation and consequences.

31 August 2026Tagblick Newsdesk

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Archive photo: Oil Agreement Between the U.S. and Venezuela: Details and Expectations — Archive photoPhoto: JEDIKNIGHT1970 · Wikimedia Commons · CC BY 2.5

The United States has reached an oil agreement with Venezuela that, according to President Trump, secures more than 65 billion barrels of oil. This pact is seen as a significant step in the relations between the two countries, with potential economic benefits for Venezuela, as stated by Secretary of State Marco Rubio.

According to information from ABC News, the agreement is designed to last 25 years, with an increase in Venezuela's production of up to 1.5 million barrels per day. However, many important aspects of the deal remain unclear, creating uncertainty about its effective execution.

Furthermore, it is reported that Venezuela expects to receive over 100 billion dollars in investments to revitalize its oil industry, which has been severely affected by years of decline. In return, the United States would gain a substantial stake in oil production over the coming decades, raising questions about the predominant extraction model that might be developed in the South American country.

Trump is also preparing to meet with leaders in the oil industry to discuss this agreement. The goal of these meetings is to increase the availability of crude oil and reduce gasoline prices in the U.S. market, which has been a topic of criticism given the high profits reported by major companies in the sector.

Experts, such as oil law specialist César Mata, warn that the success of transforming Venezuela's vast oil reserves into greater production depends on factors such as sustained investment, legal security, and the stability of the country’s institutions.

The agreement comes in the context of rising fuel prices in the U.S., exacerbated by the conflict with Iran, which adds pressure on the Trump administration to find short-term solutions that benefit consumers.

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