WASHINGTON, United States, Aug 29, 2026 (BSS/AFP) - Secretary of State Marco Rubio said Friday that a new oil deal giving the United States a huge stake in Venezuelan petroleum reserves will bring nearly $100 billion in private investment to the Latin American nation.

Rubio said on X that the deal would secure stable reserves and lower gas prices in the US, and added: "For the Venezuelan people, this deal will bring nearly $100 billion in private investment, support thousands of high-paying jobs, and drive the reconstruction of Venezuela's economy."