President Donald Trump announced Friday that the United States and Venezuela have reached what he described as a "historic" oil deal. The agreement, according to Trump, will grant the U.S. majority control over billions of barrels of oil reserves in Venezuela and is expected to lower gas prices for Americans.

This announcement comes at a time of surging oil and gas prices, exacerbated by the ongoing war with Iran, which reached its six-month mark on Friday. The deal aims to provide a significant new source of oil for the U.S. market.

In a social media post, Trump referred to the agreement as "THE BIGGEST OIL DEAL IN WORLD HISTORY," asserting it would give the U.S. majority control of more than 65 billion barrels of proven oil reserves in Venezuela. He claimed the deal would "substantially lower gas prices for Americans long into the future."

The president stated that the deal was secured at no cost to the American taxpayer through the efforts of Secretary of State Marco Rubio and Secretary of War Pete Hegseth, working with Venezuela's interim president, Delcy Rodriguez, and private business partners.

Venezuela's acting President Delcy Rodriguez hailed the agreement, calling it a "historic milestone" for U.S.-Venezuelan relations and stating it would have a significant impact on her nation's "revival." She thanked Trump, Secretary Rubio, and noted that the agreement signifies a new era of recovery and prosperity for Venezuela.

Rodriguez also indicated that the deal involves the development of 17 strategic oil fields with a potential of 65 billion barrels, requiring an investment exceeding $100 billion and promising over $209 billion in tax revenue. She stated the agreement will enable a substantial increase in oil production through the participation of private operators.

Venezuela, recognized for holding the world's largest proven oil reserves, has faced severe economic crises for years, compounded by devastating earthquakes in June. The government has been seeking ways to revitalize its struggling oil sector, which has seen reforms allowing for greater private participation.

Chevron, the sole U.S. oil company currently operating in Venezuela, declined to comment on the announcement. The full details and implications of the deal, particularly regarding the involvement of private businesses and the specifics of U.S. control, remain to be elaborated upon.