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What is the 'largest oil agreement in history' announced by the US and Venezuela — and why it is so controversialPhoto by Artūras Kokorevas on Pexels
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What is the 'largest oil agreement in history' announced by the US and Venezuela — and why it is so controversial

BBC News Brasil31 August 2026 at 09:53

The United States and Venezuela announced what was described as the largest oil agreement in history. The negotiation was conducted by US President Donald Trump and Venezuela's Vice President Delcy Rodríguez.

The agreement grants the United States access to Venezuelan oil fields containing estimated reserves of 65 billion barrels of oil.

The announcement was met with controversy, sparking debate about the geopolitical and economic implications of the agreement between the two countries.

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