- The U.S. is reportedly close to securing a massive deal that would give it long-term access to, or an ownership stake in, Venezuelan oil fields with 90 billion barrels of proven reserves.
- High-level discussions between U.S. and Venezuelan officials suggest the deal could involve leasing fields and holding auctions for American oil producers.
- The U.S. has been managing Venezuelan oil sales since capturing Nicolás Maduro in January, with President Trump stating the U.S. has collected over $13 billion so far.
- Secretary of State Marco Rubio noted that oil revenue is held in a Citibank account and audited by KPMG, supported by temporary U.S. sanctions relief.
- Increased access to Venezuelan crude could lower elevated U.S. fuel prices stemming from the conflict with Iran and tensions in the Strait of Hormuz.
IN FULL
