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Trump says US reaches deal with Venezuela to control 65 billion barrels of country’s oil reserves
Summary by The El Paso Editorial Desk CNN Newsource , as published by KVIA ABC-7
· August 28, 2026
· 1 min read
Photo: KVIA ABC-7 · view original
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Summary created by The El Paso Editorial Desk — automated, rule-governed Byline on source page CNN Newsource, as published by KVIA ABC-7 Original story Read at the source Source published Aug 28, 2026 Indexed here Aug 29, 2026 AI assistance Automated summary drawn from the source’s own published text Prepublication human review No — editorial rules, flagged-item review, and published samples
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Key points The deal reportedly gives the US control of 65 billion barrels of Venezuela's oil reserves. President Donald Trump announced an oil agreement with Venezuela, stating it will increase American oil reserves and lower gas prices.
President Donald Trump announced an oil agreement with Venezuela, stating it will increase American oil reserves and lower gas prices. The deal reportedly gives the US control of 65 billion barrels of Venezuela's oil reserves. Trump claims this will more than double American oil reserves and increase oil supply.
Further details of the agreement are available, including the roles of various officials in securing the deal. The president stated that the transaction was achieved at no cost to American taxpayers.
The agreement's potential impact on gas prices and the US oil supply is expected to be significant, according to Trump's statement.
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Category: News Published: August 28, 2026 Source: KVIA ABC-7 Reading time: 1 min
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What is this story about? President Donald Trump announced an oil agreement with Venezuela, stating it will increase American oil reserves and lower gas prices. The deal reportedly gives the US control of 65 billion barrels…
When was this published? This article was first published on August 28, 2026 by KVIA ABC-7 and curated for The El Paso readers.
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