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What we know about Trump's deal giving US access to vast oil reserves in Venezuela

Summary by The Los Angeles Editorial Desk · Byline on the source page: KABC, as published by ABC7 Los Angeles (KABC) · August 31, 2026 · 1 min read

Photo: ABC7 Los Angeles (KABC) · view original

Details about a recent agreement have been made public. This deal involves access to a significant amount of oil. The United States is set to gain a stake in these reserves, which are located in Venezuela.

Further information about this agreement is available, including comments from Trump about its implications.

The agreement was announced on a Friday night, and it is known that the US will have some access to the oil reserves as a result.

Why this story is here

ABC7 Los Angeles (KABC) reported and published this story. The Los Angeles selected it, summarised the key facts above, and links to the original. We did not report this story and we added no reporting of our own to it.

About this story

As published by ABC7 Los Angeles (KABC). The Los Angeles selects stories from publishers’ feeds, summarises them, and links back to the publisher that reported them. We add no reporting of our own. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page.

For the complete original report, visit ABC7 Los Angeles (KABC). Have a tip or correction? Contact the editor.

Category: News · Published: August 31, 2026 · Source: ABC7 Los Angeles (KABC) · Reading time: 1 min

Summary created by	The Los Angeles Editorial Desk — automated, rule-governed
Byline on source page	KABC, as published by ABC7 Los Angeles (KABC)
Original story	Read at the source
Source published	Aug 31, 2026
Indexed here	Aug 31, 2026
AI assistance	Automated summary drawn from the source’s own published text
Prepublication human review	No — editorial rules, flagged-item review, and published samples

What we know about Trump's deal giving US access to vast oil reserves in Venezuela

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