--- title: "Trump announces US control of 65 billion barrels of Venezuelan oil" publication: "MediaBias News" url: "https://mediabias.news/business/trump-announces-us-control-of-65-billion-barrels-of-venezuelan-oil" api: "https://mediabias.news/api/v1/stories/trump-announces-us-control-of-65-billion-barrels-of-venezuelan-oil" markdown: "https://mediabias.news/business/trump-announces-us-control-of-65-billion-barrels-of-venezuelan-oil.md" audio: "https://mediabias.news/api/audio/trump-announces-us-control-of-65-billion-barrels-of-venezuelan-oil" category: "Business & Economy" area: "Latin America" published: "2026-08-29T10:45:35.077Z" source_reported: "2026-08-29T10:27:33.105Z" updated: "2026-08-29T10:45:35.077Z" trust_score: 42 critic_score: 57 hype_score: 68 assessment_type: "coverage-and-source-reporting-analysis" fact_check_status: "not-performed" coverage_measured: "2026-08-29T10:30:21.609476+00:00" --- # Trump announces US control of 65 billion barrels of Venezuelan oil *President claims historic deal will boost US reserves and lower fuel prices.* **Scores for the source reporting** (0-100, assessing the original journalism this article was written from, not this write-up): - Trust 42 of 100, higher is better. Central claim attributed to Trump, with some outlets citing Rubio and Hegseth, and others mentioning Rodriguez. - Craft 57 of 100, higher is better. Most outlets provide digests, with only one full report. Details on the deal's specifics are largely absent. - Hype 68 of 100, lower is better. Headlines and digests heavily emphasize 'historic,' 'massive,' and 'biggest in world history' claims. Scored by MediaBias News; method at https://mediabias.news/methodology. **The short version** - US President Donald Trump announced an agreement with Venezuela concerning oil reserves. - The deal reportedly involves over 65 billion barrels of Venezuelan oil reserves, with the US gaining majority control. - Trump stated the agreement would increase US oil reserves and lower fuel prices for Americans. - Il Messaggero reported the deal involves private companies and names Rubio and Hegseth. US President Donald Trump announced on 29 August 2026 an agreement with Venezuela that would give the United States majority control over more than 65 billion barrels of the country's proven oil reserves. Trump described the deal as the largest in world history, stating it would significantly increase US oil reserves and lower fuel prices for Americans. ## Details of the agreement While the full details of the agreement have not been made public, Trump indicated it was structured through partnerships with private companies. Il Messaggero reported that Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth played a significant role in the deal. According to Il Messaggero, the agreement aims to increase US oil reserves and bolster crude availability for the American market, while also encouraging an increase in Venezuelan production. The deal reportedly involves the development of 17 strategic oil fields. Some reports suggest the investment could exceed $100 billion, with potential tax revenues for Caracas over $209 billion. ## Coverage comparison ## What the coverage left out None of the digests mention the specific cost to the US for this agreement, nor do they detail the exact terms of the partnership with private companies beyond what Il Messaggero reported. The specific percentage of control the US gains over the reserves, beyond "majority control," is not consistently detailed across all reports, with El Pais and Welt mentioning "one fifth" while others do not specify. ## Who covered it Shares of the 10 covering outlets with a published leaning rating: - Left: 60% (6) - Centre: 10% (1) - Right: 30% (3) 17 of 27 covering outlets carried no usable leaning rating and were excluded from those percentages. Coverage measured 2026-08-29T10:30:21.609476+00:00. **Coverage watch:** developing. Checked 1 time; 0 checks found a material change. Most recently checked 2026-08-29T11:00:19.510Z. ## How the sides framed it ### Left - Left-rated reports focused on the scale of the deal, with headlines often highlighting the "historic" nature and the "majority control" the US would gain over the reserves. Several reports noted Trump's claim that it is the "biggest oil deal in world history." Some left-rated outlets mentioned the potential for the deal to "double" US oil reserves and lower gasoline prices. El Pais reported that the US would become the owner of a "large part" of Venezuela's oil sector, taking over "one fifth" of the country's reserves. Unn.ua also stated the US would "allegedly" gain majority control over the reserves, with details yet to be disclosed. Mediaite quoted Trump saying the agreement gives the US majority control over more than 65 billion barrels of proven oil reserves. ### Centre - The centre-rated report from Il Messaggero provided the most detailed account, noting that the agreement involves a partnership with private companies and naming Rubio and Hegseth as key figures. It highlighted that the US would gain majority control over more than 65 billion barrels of proven oil reserves. The report also discussed the potential for increased US involvement in the exploitation of Venezuelan oil and the geopolitical and energy significance of the deal. It noted that the deal comes after months of negotiations and mentioned previous reports from the Wall Street Journal and Axios about advanced talks. Il Messaggero also pointed out that the deal could help mitigate pressure on fuel prices ahead of the US midterm elections. ### Right - Right-rated reports focused on the acquisition of oil reserves and the potential benefits for the US. News-pravda.com stated that the US had gained control over 65 billion barrels of Venezuelan oil, according to Donald Trump, and that the agreement would "double the strategic oil reserves of the United States and lower..." fuel prices. OKDIARIO reported that Trump "Gets 65 Billion Barrels of Venezuela and Doubles US Oil Reserves," framing it as a step to shield US energy security. Welt reported that the US "Secures Huge Oil Occurrences, Agreement with Venezuela," with Trump stating the US would secure control over 65 billion barrels, approximately one fifth of the South American country's deposits. **Provisional coverage gap:** right. The watch is not closed, so this is not yet a settled blindspot finding. ## Factuality profile of the covering outlets These are published factuality ratings of the outlets, not a verdict on whether this story or its claims are true. - veryLow: 1 - mixed: 1 - high: 5 - unknown: 17 - veryHigh: 3 ## Verification scope This page compares coverage and scores the source reporting. It is not a ClaimReview verdict on whether the underlying event or claim is true. ## Original reporting this was written from - [Jordan News | Latest News from Jordan, MENA](https://jordannews.jo/Section-111/All/Trump-US-Signs-Major-Oil-Deal-With-Venezuela-54872) — Trump: US Signs Major Oil Deal With Venezuela - [www.economica.net](https://economica.net/cel-mai-mare-acord-petrolier-din-istoria-mondiala-moment-istoric-intelegere-intre-sua-si-venezuela-trump-pretul-benzinei-va-scadea-considerabil-pentru-toti-americanii_972111.html) — The Largest Oil Agreement in World History. Historical Moment, Understanding Between the US and Venezuela - Trump: The Price of Gas Will Drop Considerably for All Americans - [BoldMedya](https://boldmedya.com/2026/08/29/trump-duyurdu-venezuela-petrolunun-kontrolu-abdye-gecti) — Trump Announces that Venezuela Has Passed Control of Oil to the United States - [Duurzaamnieuws](https://duurzaamnieuws.nl/de-vs-nemen-de-olie-van-venezuela-over-wat-betekent-dat-voor-het-klimaat) — The US Is Taking over Venezuela's Oil. What Does that Mean for the Climate? - [Tuko.co.ke - Kenya news.](https://tuko.co.ke/business-economy/energy/637991-trump-announces-majority-control-venezuelas-65b-barrel-oil-reserves) — Donald Trump announces US majority control of Venezuela’s over 65b barrel oil reserves - [Il Messaggero](https://ilmessaggero.it/mondo/usa_petrolio_venezuela_accordo_trump_cosa_cambia-9731871.html) — Trump Takes Venezuelan Oil: Record Deal for over 65 Billion Barrels, What Changes (and Why Is a Winning Move) - [Cumhuriyet](https://cumhuriyet.com.tr/dunya/abd-venezuela-arasinda-tarihi-petrol-anlasmasi-yuzde-55-kontrol-saglayacak-2533331) — Historic Oil Deal Between the US and Venezuela: Will Provide 55 Percent Control. - [Aktuelno](https://aktuelno.me/clanak/tramp-sad-postigle-dogovor-sa-venecuelom-o-kontroli-nad-65-milijardi-barela-naftnih-rezervi-te-zemlje) — Trump: The US Reached an Agreement with Venezuela on Control over 65 - [L'Opinion](https://lopinion.fr/international/plus-de-65-milliards-de-barils-donald-trump-annonce-un-accord-petrolier-entre-les-etats-unis-et-le-venezuela) — More than 65 Billion Barrels: Donald Trump Announces an Oil Agreement Between the United States and Venezuela - [katadata.co.id](https://katadata.co.id/berita/internasional/6a929d120d0e9/trump-klaim-as-kuasai-65-miliar-barel-minyak-venezuela-terbesar-dalam-sejarah) — Trump Claims US Controls 65 Billion Barrels of Venezuelan Oil, the Largest in History - International Katadata.co.id - [news-pravda.com](https://news-pravda.com/world/2026/08/29/2549958.html) — The United States has gained control over 65 billion barrels of Venezuelan oil, Donald Trump said - [timeskuwait.com](https://timeskuwait.com/trump-hails-historic-venezuela-oil-deal-as-biggest-in-world-history) — Trump hails ‘historic’ Venezuela oil deal as biggest in world history - Times Kuwait - [dailythedestination.com](https://dailythedestination.com/trump-hails-major-us-venezuela-oil-deal-as-historic-agreement) — Trump Hails Major US-Venezuela Oil Deal as Historic Agreement - THE DESTINATION - [OKDIARIO](https://okdiario.com/economia/cuentas-publicas/trump-queda-65-000-millones-barriles-venezuela-duplica-reservas-petroleo-eeuu-20193313) — Trump Gets 65 Billion Barrels of Venezuela and Doubles US Oil Reserves - [europost.gr](https://europost.gr/ypo-ton-elegcho-ton-ipa-to-petrelaio-tis-venezoyelas-i-megalyteri-symfonia-stin-pagkosmia-istoria-kai-i-terastia-geopolitiki-kai-energeiaki-simasia-tis) — Venezuela's Oil Under US Control - "The Biggest Deal in World History" and Its Huge Geopolitical and Energy Significance - [Medyascope](https://medyascope.tv/2026/08/29/trumptan-venezuela-ile-65-milyar-varillik-petrol-anlasmasi) — Trump Announced a New Oil Deal with Venezuela: the US Will Have "Majority" Control over 65 Billion Barrels. - [The Munsif Daily](https://munsifdaily.com/trump-tells-us-has-reached-agreement-with) — Trump tells US has reached agreement with Venezuela on 'biggest oil deal in world history' - [Flying Eze](https://flyingeze.com/trump-praises-venezuela-oil-deal-billions) — Trump Celebrates Historic $65 Billion Oil Deal with Venezuela,... - [Aporrea](https://aporrea.org/tiburon/n422787.html) — Trump Announces Oil Agreement with Venezuela to "Control" 65 Billion Barrels: "It's the Biggest in History" - [El Pais](https://elpais.com/us/2026-08-28/trump-anuncia-un-acuerdo-con-venezuela-para-aduenarse-de-parte-de-su-sector-petrolero.html) — Trump Announces an Agreement with Venezuela to Take over Part of Its Oil Reserves - [pnt.cl](https://puranoticia.pnt.cl/internacional/donald-trump-asegura-haber-alcanzado-con-venezuela-el-mayor-acuerdo-de) — Donald Trump Claims to Have Reached the "Greatest Oil Deal in History" with Venezuela - [Welt](https://welt.de/politik/ausland/article6a921b1d518a586e1855bfe2/usa-sichern-sich-riesige-oel-vorkommen-abkommen-mit-venezuela.html) — USA Secures Huge Oil Occurrences – Agreement with Venezuela - [unn.ua](https://unn.ua/news/tramp-oholosyv-pro-naibilshu-naftovu-uhodu-v-istorii-mizh-ssha-ta-venesueloiu) — Trump Announces the “Largest Oil Deal in History” Between the United States and Venezuela - [Mediaite](https://mediaite.com/politics/trump/trump-says-hes-secured-u-s-control-of-venezuelan-oil-in-biggest-oil-deal-in-world-history) — Trump Says He’s Secured ‘U.S. Control’ of Venezuelan Oil in ‘BIGGEST OIL DEAL IN WORLD HISTORY’ - [USA Today](https://usatoday.com/story/news/world/2026/08/28/trump-venezuela-oil-deal-us-control/91516332007) — Trump says Venezuela deal will give US stake in 65 billion barrels of oil - [Le Monde](https://lemonde.fr/international/article/2026/08/29/donald-trump-annonce-un-accord-petrolier-avec-le-venezuela-pour-donner-aux-etats-unis-le-controle-de-65-milliards-de-barils-des-reserves-du-pays_6759300_3210.html) — Donald Trump Announces an Oil Agreement with Venezuela to Give the United States Control over a Large Part of the Country's Reserves - [Monitoreamos](https://monitoreamos.com/destacado/trump-mayor-acuerdo-petrolero-historia-venezuela) — Trump Announces that the US and Venezuela Signed the "Greatest Oil Deal in World History" ## Questions **What is the main outcome of the US-Venezuela oil agreement?** US President Donald Trump announced an agreement with Venezuela that grants the United States majority control over more than 65 billion barrels of the country's proven oil reserves. Trump stated this deal is the largest in world history and will increase US oil reserves while lowering fuel prices. **How much oil is involved in the deal?** The agreement reportedly involves over 65 billion barrels of Venezuelan oil reserves. President Trump described this quantity as the largest in world history and claimed it would more than double US oil reserves. **Who was involved in negotiating the deal?** While President Trump announced the deal, Il Messaggero reported that it was structured through partnerships with private companies and involved Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth. Trump also mentioned working with interim Venezuelan President Delcy Rodríguez. **What are the predicted economic impacts of the deal?** President Trump predicted that the agreement would significantly increase US oil supply and substantially reduce fuel prices for Americans in the long term. Il Messaggero also suggested the deal could help alleviate pressure on fuel prices. --- MediaBias News — https://mediabias.news. Reproduced from https://mediabias.news/business/trump-announces-us-control-of-65-billion-barrels-of-venezuelan-oil. Please cite as: MediaBias News, "Trump announces US control of 65 billion barrels of Venezuelan oil", https://mediabias.news/business/trump-announces-us-control-of-65-billion-barrels-of-venezuelan-oil