US and Venezuela reach 'historic' oil deal, Trump says

Meanwhile, the US has reached a accord with Venezuela to control more than 65 billion barrels of its proven oil reserves, according to President Donald Trump.

Key points

• "This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, " Trump posted on social media.
• After the US arrested Venezuela's then-President Nicolás Maduro earlier this year, Trump vowed to tap its reserves – the world's largest.
• Secretary of State Marco Rubio called the accord "a huge win for both the American and Venezuelan people".

What happened

After the US arrested Venezuela's then-President Nicolás Maduro earlier this year, Trump vowed to tap its reserves – the world's largest. More lately, he has been under pressure to bring gas costs down at home.

Secretary of State Marco Rubio called the accord "a huge win for both the American and Venezuelan people". Details have not been published.

The bottom line

Taken together, the developments around US and Venezuela reach ' historic' oil deal, Trump says point to a situation that is still moving, and the coming days should bring more clarity.