US details terms of major Venezuela oil agreement

The United States has detailed key terms of a major energy agreement with Venezuela, securing majority control over more than 65 billion barrels of proven crude reserves. Under the arrangement, Washington gains administrative rights over private operators, including a right of first refusal for crude purchases and veto authority over corporate board appointments. US President Donald Trump described the initiative as "the largest oil deal in the history of the world," aiming to rehabilitate Venezuela's infrastructure and lower domestic fuel prices. Analysts indicate the move could significantly reshape OPEC market dynamics and expand US leverage over global energy pricing during ongoing geopolitical conflicts. Further operational details remain limited.

Sources: Bloomberg, Cyprus Mail, Daily Sabah, Sweden Herald, Trend News Agency