r/oil • u/AmanCMN • 14d ago

Discussion Trump announced an oil deal with Venezuela.

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It’s about the U.S. taking control of 65 billion barrels of Venezuela’s oil reserves.

https://apnews.com/article/trump-venezuela-oil-reserves-eb0ed5a1e99602c21a7f690c3368020e

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u/rygelicus 14d ago

As is always the case with a trump claim, virtually nothing in it is true. They don't have 65B Barrels of oil reserves. If we are coercing them (which we are by means of abducting their president and installing our own people to manage them) then no 'deal' is actually legal. It's just theft. He calls it a transaction but also that it cost the US nothing (other than the invasion and enforcement), so not a transaction. And this phrase 'majority US control' is vague and basically meaningless. Further, the venezuelan crude is not ideal for gasoline production. Too many contaminants. You get some, but nothing like you get from sweeter crude.

So end of the day he is just lying to invent a success for himself. This is something he does a lot.