The United States may reach a "massive" oil deal with Venezuela as the Trump administration weighs taking an ownership stake in the country's vast petroleum resources, Axios reported on Thursday, citing two US officials.
The historic agreement could more than double US oil reserves by tapping into Venezuela's roughly 300 billion barrels of proven reserves, the world's largest. Talks cover more than a dozen producing fields that could produce up to 90 million barrels a day, though not all of Venezuela's reserves are involved. "Calling this deal huge would be an understatement … It is massive," one of the officials said.
The push comes after the US Strategic Petroleum Reserve fell by 6.1 million barrels in mid-August to 298.7 million, its lowest level since January 1983, according to the Department of Energy data.
https://breakingthenews.net/Article/US-may-reach-'massive'-Venezuela-oil-deal/66999861
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