US to control more than 65 billion barrels of Venezuela oil
Trump announced a major deal. The US secured majority control of more than 65 billion barrels of Venezuela's proven oil. Venezuela's interim government and private businesses agreed to it.
Why it mattersThe Iran war has disrupted global oil supplies. Venezuela has vast oil reserves. These reserves could help lower American fuel prices. Voters are angry about prices ahead of November's midterm elections.
AustraliaNo direct effect yet; Australian fuel prices depend partly on global supply stability, which this deal aims to support.
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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