Watch: Why is the US

World September 01, 2026 10:04 AM

President Donald Trump announced on Friday that the US has struck a deal with Venezuela to control more than 65 billion barrels of its proven oil reserves. The US president wrote that the agreement would more than double American oil reserves and "substantially lower gas prices for all Americans".

The BBC's Tom Bateman explains what the deal means and why critics are raising concerns.

Based on History

Watch: Why is the US

1 hour ago

Watch: Why is the US

Related Stories

David Rosenberg: U.S. dollar bear market looms as the world loses confidence in the White House

CNN’s Anderson Cooper reports from rescue operation at Nepal’s hydropower tunnels

Kākāpō rising: 90 chicks swell population of the world’s heaviest parrot

International Overdose Awareness Day

African Union and International Solar Alliance partner to accelerate Africa’s solar transition

Antigua and Barbuda consumers to pay more for fuel amid ongoing US-Iran war

Images from around the world this summer show the early effects of El Niño

Côte d’Ivoire campaigns for return to ITU Council with focus on digital inclusion