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The Conversation
The Conversation
Sahara Hoff, Research Associate in the United States Studies Centre’s Economic Security Program, University of Sydney

The US has struck a deal to control Venezuela’s oil reserves. It probably won’t help bring down fuel prices

Oil United States Venezuela Donald Trump Delcy Rodríguez
Pedro Mattey/AFP via Getty Images

US President Donald Trump has announced an agreement with Venezuela that he called the “biggest oil deal in world history”.

The Trump administration says the agreement will double US oil reserves and lower fuel prices for all Americans. But questions remain about whether and when that might happen.

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