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Explainer · Venezuela · Oil & Currency The 2026 U.S.-Venezuela Oil Deal, Explained: 65 Billion Barrels and the Currency Question On August 28, 2026, President Trump announced what he called the biggest oil deal in world history: a U.S. partnership covering 65 billion barrels of Venezuelan reserves. Venezuela's money has always risen and fallen with its oil, so here is what was announced, how the country got here, and why collectors of the bolívar are watching closely. …