President Donald Trump made an announcement about a deal involving oil reserves. A large amount of oil is reportedly involved, with the US set to have majority control. The amount in question is more than 65 billion barrels.

Details about the arrangement are limited, but it is said to involve partnership with private business. Venezuelan officials have not commented on the matter.

Further information about the deal, including how the oil will be extracted, is not immediately available. The administration has not provided additional details at this time.