Venezuelan Oil Will Be Used to Refill US Reserve, Trump Says

In the United States on 30 August 2026, Trump said the US will refill its Strategic Petroleum Reserve using Venezuelan oil, under a US-Venezuela energy deal he called the 'biggest oil deal in world history'. Venezuela's interim president, Rodriguez, said the energy pact will last 25 years and that Venezuela retains sovereignty over its oil reserves.

The Wall Street Journal reported a plan to give the Pentagon a stake in Venezuela's oil, and Reuters, citing the WSJ, reported the US would take a 35% stake in Venezuelan businessman Betancourt's oil venture. Republic TV reported Trump claims 55% of Venezuela's reserves for 100 years, with no text released. Bloomberg reported the deal angers both sides of the Venezuelan political divide, and O Globo reported warnings that Venezuela could become a natural-resources colony.