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Trump says Venezuela oil deal will lower US gas prices for years

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Trump says Venezuela oil deal will lower US gas prices for years

Venezuelan interim President Delcy Rodriguez on Saturday touted a “historic” oil agreement with the United States announced by President Donald Trump.

Speaking during an evening address, Rodriguez celebrated the agreement, saying it would help revive Venezuela’s economy. She said the deal would remain in effect for 25 years and initially target crude production of more than 1.5 million barrels per day while preserving the South American country’s sovereignty over its natural resources.

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“This 25-year bilateral project envisages the development of 17 strategic oilfields with a production target of more than 1.5 million barrels per day,” Rodriguez said on state broadcaster VTV.

“That figure relates solely to the bilateral agreement between Venezuela and the United States,” she added.

TRUMP ANNOUNCES ‘BIGGEST OIL DEAL IN WORLD HISTORY,’ SAYS IT WILL SUBSTANTIALLY LOWER GAS PRICES

President Donald Trump in the Oval Office of the White House

President Donald Trump announced what he called the “biggest oil deal in world history” between the United States and Venezuela, saying the agreement would increase U.S. oil supplies and lower gas prices. (Al Drago/The Washington Post/Bloomberg via Getty Images / Getty Images)

Rodriguez’s comments came after Trump announced the agreement on Truth Social on Friday, saying the U.S. had secured majority control of more than 65 billion barrels of Venezuela’s proven oil reserves, which are the largest in the world.

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“The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” Trump wrote.

The agreement was reached through Secretary of State Marco Rubio, Secretary of War Pete Hegseth, Rodriguez and private businesses “at no cost to the American Taxpayer,” Trump said.

“This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future,” Trump said.

US ARMY PLANS NUCLEAR MICROREACTORS AT 5 MILITARY BASES AS PART OF $2.2B ENERGY SECURITY PUSH

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A Venezuelan flag waves in front of oil tanker on lake in Maracaibo, Venezuela on July 27, 2026. (Jose Isaac Bula/Anadolu via Getty Images / Getty Images)

Rubio called the agreement a “huge win” for both countries, saying it would secure “stable reserves and low-cost oil” in the Western Hemisphere while lowering U.S. gas prices.

He added that the deal would also bring nearly $100 billion in private investment to Venezuela, support thousands of high-paying jobs and help rebuild the country’s economy.

Rodriguez said the production target was only an initial goal, with broader plans to develop eight greenfield oil blocks as part of a wider energy expansion.

On Saturday, the interim president predicted that the agreement could generate more than $200 billion in revenue for Venezuela.

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TRUMP ORDER COULD FORCE US UTILITIES TO REPLACE FOREIGN POWER EQUIPMENT

Venezuelan interim President Delcy

Venezuelan interim President Delcy Rodriguez said the 25-year oil agreement with the United States initially targets production of more than 1.5 million barrels per day. (Juan Barreto/AFP via Getty Images / Getty Images)

She also said her country retained “ownership of and sovereignty” over its natural resources, “while leveraging capital, technology and operational expertise to support the recovery of a strategic industry that has been severely affected by sanctions.”

The deal was met with praise from some members of the oil industry, including oil trader Phil Flynn.

Speaking on “Fox & Friends Weekend,” Flynn praised the agreement, arguing it could lower prices for years and that U.S. technology could transform Venezuela’s oil industry.

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“I think this is a win. It’s a generational win for Americans because it is [going to] lead to a generation of low prices,” Flynn told host Kayleigh McEnany.

FOX Business’ Jasmine Baehr and Reuters contributed to this report.

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Synopsys Crushed Earnings, But I’m Downgrading The Stock (NASDAQ:SNPS)

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Synopsys Crushed Earnings, But I’m Downgrading The Stock (NASDAQ:SNPS)

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I’m a passionate investor from the Netherlands with 12 years of stock market experience. My articles usually contain a good overview of important investment criteria. A stock for my portfolio is of interest to me if the company has the following characteristics:1. Companies that are growing in both revenue, earnings and free cash flow.2. Companies that have excellent growth prospects.3. Stocks with favorable valuations.I prefer steadily growing companies with high free cash flow margins, dividend stocks and stocks with generous share repurchase programs.Disclaimer: My articles do not provide financial advice, they reflect my own findings and insights.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Astera Labs Has Found Its Next Growth Engine (NASDAQ:ALAB)

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Vertiv: Remains A Fantastic Pick And Shovel AI Play

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My investing journey began at 15, sparked by a deep curiosity for markets and shaped by my father’s career in finance. What started as a fascination with Warren Buffett’s annual letters quickly evolved into a full-time passion for value investing, mental models, and understanding how great businesses create long-term value. I’ve spent years independently studying financial statements, building DCF models, and analyzing companies through both fundamental and behavioral lenses. While I’m still early in my professional path, I’ve been immersed in the world of investing for nearly a decade. From dissecting shareholder letters to reverse-engineering business strategies, I’ve developed a disciplined, fundamentals-first approach grounded in long-term thinking. I focus on identifying mispriced quality companies and understanding what makes certain business models resilient across cycles. I write on Seeking Alpha to share insights, test ideas in public, and contribute to a community of investors who value clear thinking over hype. My goal is to provide thoughtful, research-backed commentary, whether on under-the-radar compounders, Growth/GARP stocks, or misunderstood tech platforms. Above all, I invest with conviction, patience, and a relentless drive to keep learning.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of ALAB, CRDO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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US Treasury’s Bessent faces G20 diplomacy test amid tariffs, Iran war, bond turmoil

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Chicago Atlantic BDC: Merger Upside Remains Intact After Q2

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SCHD And QQQ: The New 60-40 Portfolio (Bitcoin And Gold Edition) (NYSEARCA:SCHD)

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Why I Still Don't Use A 60-40 Amid 5% Treasury Bond Yield

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Helping you manage your own investments. I founded Blue Harbinger in 2015 after managing multibillion-dollar investment portfolios for a private pension fund and for a large bank in Chicago. I am happy to share a small subset of my investment idea reports on Seeking Alpha. Chicago Booth MBA.Mark D. Hines | https://www.markdhines.com

Analyst’s Disclosure: I/we have a beneficial long position in the shares of SCHD, QQQM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Dorchester Minerals: Still Attractive – Despite Oil Price Headwinds

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Dorchester Minerals: Still Attractive - Despite Oil Price Headwinds

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Prince William and Kate Middleton Break Balmoral Holiday to Issue Statement on Deadly Nepal Flooding

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Kate Middleton

The Prince and Princess of Wales briefly stepped away from their private summer holiday this week to issue a statement of condolence over the catastrophic flash flooding that has killed hundreds of people along the Nepal-China border, following a similar message from King Charles III.

William and Catherine, both 44, posted the statement on their social media accounts addressing the Aug. 26 disaster, which was triggered by the collapse of a glacier and rocky ledge that sent a wall of ice, rock and water surging down the Bhotekoshi River into Nepal. “The scale of the devastation along the Nepal-China border is shocking. We are thinking of everyone caught up in this terrible disaster,” the statement read, according to PEOPLE. “Our thoughts are especially with the families facing an unbearable wait for news and with the communities confronting such immense loss. We are incredibly grateful to all those working in such dangerous conditions to rescue people and support those affected.”

The couple’s message came shortly after King Charles issued his own statement of sympathy. “My wife and I are heartbroken to hear of the devastating flooding that has struck the Nepal-China border. Many in the United Kingdom have strong, deep and personal ties to this part of the world,” the King’s statement read. “We send our most profound sympathy to all those who have so tragically lost their loved ones, and we feel deeply for the many families awaiting anxiously the news of friends and relations.” Charles added, “Our hearts go out also to the families of all the police and Armed Forces personnel who lost their lives while carrying out their courageous duty in the service of others, and we give our deepest thanks to those who have responded so selflessly in undertaking rescue efforts. Our special thoughts and prayers remain with all those affected and, as always, the United Kingdom stands ready to help support those in need.”

The flooding has continued to claim lives in the days since the royal family’s statements were issued. Nepal Police said Friday that at least 579 people have been confirmed dead, with more than 2,400 others still listed as missing, as rescue crews continue searching riverbanks and debris fields across the affected region. Authorities in China’s Tibet Autonomous Region, which was also struck by the flooding, have confirmed five additional deaths on their side of the border.

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William and Catherine issued their statement while on their annual late-summer break at Balmoral Castle in Scotland, a royal tradition dating back to the reign of Queen Victoria. The couple arrived at the estate on Aug. 20 alongside their three children, Prince George, 13, Princess Charlotte, 11, and Prince Louis, 8. Three days later, the family attended a Sunday service at Crathie Kirk alongside other senior royals, including King Charles, Queen Camilla, Princess Anne and her husband Vice Admiral Sir Timothy Laurence, and Prince Edward with his daughter Lady Louise. Balmoral was a particular favorite of the late Queen Elizabeth II, who typically spent from late July until October at the Scottish estate and died there in September 2022.

The royal family’s Scotland gathering has unfolded alongside another major development within the family: the return of Prince Harry and Meghan Markle to the United Kingdom. PEOPLE first reported that the Duke and Duchess of Sussex, who stepped back from royal duties and relocated to California in 2020, arrived back in Britain on Aug. 26 with their children, Prince Archie, 7, and Princess Lilibet, 5. The couple plans to establish a private, non-royal home base in the UK, with their children set to begin school there in the coming weeks.

A source close to the family told PEOPLE that Harry’s return could present a meaningful opportunity to repair his strained relationship with his brother, William, though the two remain distant, with the same source describing their current contact as nonexistent. The source suggested Catherine could play a role in encouraging reconciliation between the brothers, saying, “Catherine may step into that breach and try to help, too, because she knows how important family is and how important Harry is to William. She would want to see that healed, as any wife would. This gives them opportunity to try and mend that bridge.” A separate source told PEOPLE that King Charles similarly hopes to see his sons reunited over time, calling the current moment “the best opportunity we have seen in recent years.”

Harry has previously expressed his own desire to repair family ties, telling the BBC in May 2025, “I would love reconciliation with my family. There’s no point in continuing to fight anymore.” Whether that reconciliation advances alongside the broader developments touching the royal family this summer, including the Nepal relief effort now drawing statements of concern from across the monarchy, remains to be seen as both branches of the family navigate a season marked by significant personal and public change.

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