Trump announces large-scale oil deal with Venezuela; oil prices not expected to fall in the short term
2026-09-01 03:02:37
According to CoinMeta, Trump announced a large-scale oil deal between the United States and Venezuela, but experts say that this deal will not reduce oil prices in the United States in the short term. Trump announced on Friday that the U.S. has gained control over most of Venezuela's 65 billion barrels of proven oil reserves, which is about 20% of the country's total reserves of 303 billion barrels. However, extracting these reserves requires huge investments, and the legality and long-term feasibility of the agreement are still uncertain. Experts point out that Venezuela's oil infrastructure is in disrepair due to years of poor management, and the current daily production is about 1.2 million barrels, far lower than the peak of 3.5 million barrels in the 1990s.
Source:Internet
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