US and Venezuela strike 65-billion-barrel oil deal
Trump's government and Venezuela agreed to develop 17 oil fields with 65 billion barrels of oil. Venezuela expects $100 billion in investment and over $209 billion in taxes.
Why it mattersThe US faces pressure from high gas prices. But experts warn that substantial Venezuelan oil production will take years to achieve. It requires billions in repairs and new infrastructure.
AustraliaNo direct Australian effect yet, but falling global oil prices from increased Venezuelan supply could lower fuel costs at Australian pumps.
Corroborated bytheguardian.com
✓ Claims checked against the source and corrected before publish. checked 1 h ago
Free. Sign in once, be genuinely informed in five minutes a day.
Tomorrow's edition, every morning.
Get the free app, read the whole feed
InSnip turns the day's news into short, source-backed snippets with a plain why it matters line. The signal, not the scroll.