Trump Reaches Venezuela Oil Deal

Trump’s Venezuela oil deal gives the Pentagon an ownership stake in a private company controlling over 65 billion barrels of crude, eight months after Washington ousted Maduro in a military raid and aligned with interim President Delcy Rodríguez. Chris Wright said in Caracas on Sept. 2 that the U.S. controls Venezuela’s external oil sales and China would have no claims on reworked projects. Chinese state lenders still hold billions in oil-backed Venezuelan debt. Opposition figures warn of weakened democratic pressure, while experts expect no near-term U.S. gasoline price cuts.