On August 29, local time, Venezuelan Acting President Delci Rodriguez said that the oil cooperation agreement reached with the US will last for 25 years, with the goal of increasing crude oil production to 1.5 million barrels per day and maintaining Venezuela's autonomy over its natural resources. US President Trump announced in a social media post on the 28th that the US has reached an agreement with Venezuela to obtain “majority control” over more than 65 billion barrels of Venezuela's proven oil reserves. On the same day, Rodriguez confirmed that Venezuela had reached a large-scale oil cooperation agreement with the US.

On August 29, local time, Venezuelan Acting President Delci Rodriguez said that the oil cooperation agreement reached with the US will last for 25 years, with the goal of increasing crude oil production to 1.5 million barrels per day and maintaining Venezuela's autonomy over its natural resources. US President Trump announced in a social media post on the 28th that the US has reached an agreement with Venezuela to obtain “majority control” over more than 65 billion barrels of Venezuela's proven oil reserves. On the same day, Rodriguez confirmed that Venezuela had reached a large-scale oil cooperation agreement with the US.