The agreement announced on Friday between the United States and Venezuela provides that Washington will have control of approximately one-fifth, that is, about 20%, of Venezuelan oil reserves, which are the largest in the world.
American President Donald Trump stated that the United States "obtained majority control of more than 65 billion barrels" of proven oil reserves in Venezuela, which would represent about 20% of the South American country's gigantic reserves.
The agreement rests on fuzzy contours and raises numerous doubts about its implementation. The reaction to the agreement angered both sides of Venezuelan politics.
This control would largely reinforce the United States' production capacity, whose subsurface contains 46 billion barrels of oil, according to data from the US Energy Information Agency. The oil from Venezuela will be used to replenish the United States' strategic reserve.
