The United States has signed an oil trade agreement with Venezuela. Under this agreement, the United States will secure majority control over more than 650 billion barrels of Venezuela's oil reserves and plans to establish a private company with the world's second-largest oil reserves after Saudi Aramco. Venezuela expects that this agreement will attract approximately $100 billion in private investment, create thousands of jobs, and contribute to the reconstruction of the national economy. The United States anticipates that this agreement will help lower international oil prices and domestic energy prices.
