The United States government is reportedly close to reaching an oil agreement with Venezuela, according to n-tv.de. The deal, which could involve the South American nation's massive oil reserves, is said to be imminent based on insider reports cited by multiple outlets.
Citing sources familiar with the matter, n-tv.de reports that the potential agreement centers on Venezuela's estimated 90 billion barrels of proven oil reserves. The German news outlet notes that the US administration has been in talks with Caracas regarding participation in the country's oil fields, a claim also picked up by STERN.de and FAZ.
According to WELT, which also cited insiders, Venezuela may be willing to exit OPEC as part of the negotiations with Washington. The prospect of such a move would mark a significant shift for the oil-producing nation, which has long been a member of the cartel. The reports suggest that the Trump administration is actively seeking access to Venezuelan oil assets, a development that could reshape regional energy dynamics.
The talks come at a time when global energy markets remain volatile, and any agreement between the US and Venezuela could have wide-reaching implications for supply and pricing. While the exact terms of the deal have not been disclosed, the scale of the reserves involved underscores the strategic importance of the negotiations. Neither government has officially confirmed the reports, and details remain scarce.
What to watch next: Whether an official announcement emerges from Washington or Caracas, and how Venezuela's potential OPEC exit would affect the cartel's production decisions.
