Trump says US is taking partial control of Venezuela's vast oil reserves

President Donald Trump on Friday announced an unprecedented U.S. push to take control of a fifth of Venezuela’s vast oil reserves, betting that American companies can revive the OPEC nation’s battered energy industry while delivering a new source of crude to help bring down U.S. fuel prices. Trump provided few details about the agreement, saying only that the U.S. had secured majority control of more than 65 billion barrels of Venezuela’s proven oil reserves through a partnership with private business. The South American nation’s leader welcomed the agreement, saying it would boost the economy and government revenue. The new deal would represent a dramatic expansion of the U.S. role in Venezuela’s oil industry as the Trump administration seeks to revive the country’s production and secure more crude for U.S. refineries. Venezuela holds the world’s largest proven oil reserves but produces only about 1.25 million barrels per day, far below its potential after years of under investment, mismanagement and sanctions. Trump’s oil push widens with seizure of Russian-flagged tanker linked to Venezuela Rubio calls deal a win-win “At my direction, Secretary of State Marco Rubio, and Secretar