The Trump administration is touting the oil deal with Venezuela as a way to lower gasoline prices, which have been elevated since the Iran war broke out.

Officials said the deal will bring nearly $100 billion in private investment to Venezuela.

United States President Donald Trump has announced an agreement granting the country majority control of Venezuela’s proven oil reserves, describing the

President Donald Trump US has entered an agreement with Venezuela to take control of 65 billion barrels of the country's oil reserves.

President Donald Trump on Friday announced an unprecedented push to take control of a fifth of Venezuela's vast oil reserves, betting that American companies can revive the nation's battered energy industry.

Donald Trump said the US had struck a deal with Venezuela and private firms over oil reserves. The announcement expands Washington's energy push, though legal and financial questions remain.

Aug. 28 (UPI) -- President Donald Trump on Friday said his administration had reached a deal with Venezuela to secure a stake in more than 65 billion barrels of the country's oil reserves.

“The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” Trump wrote in a social media post.

Trump announces U.S. deal with Venezuela to control 65 billion barrels of oil reserves, marking a historic agreement.

President Donald Trump says his administration has entered a sweeping agreement with Venezuela that, if realized, could give the U.S. access to vast amounts of the South American country’s untapped oil reserves, at cost.

WASHINGTON - The U.S. struck a deal with Venezuela to get majority control of more than 65 billion barrels of oil reserves as the war with Iran roils the global crude trade, President Donald Trump announced Friday. The agreement more than doubles the U.S. oil reserve, according to Trump. Department of Energy data released earlier this month showed oil volumes in the Strategic Petroleum Reserve hit lows not seen since the 1980s. Trump’s deal with Venezuela follows the U.S.? January attack on the South American country. Nicolás Maduro, Venezuela’s then-president, and his wife, Cilia Flores, were captured during the strike. In his social media post, Trump said U.S. officials coordinated with government leaders in Venezuela. They also utilized a “partnership” with unnamed private businesses to secure the deal, he said. Trump’s announcement comes as consumers grapple with spiking energy prices heading into the midterm elections, which will determine if his Republican party retains full control in Washington. Trump…