0:00
The Trump administration is reportedly looking at a new way to boost America's oil supply
0:07
taking an ownership stake in Venezuela's oil fields. Axios is reporting the administration
0:12
is in talks with Venezuela's interim government about a potential deal. The outlet cites two U.S
0:18
officials familiar with the discussions. The details are still being worked out, but Axios
0:23
says the talks involve more than a dozen producing oil fields with about 90 billion barrels of proven
0:29
reserves. In return, private companies, including American firms, would help develop the fields
0:36
which would mean more oil revenue going back to Venezuela. One U.S. official described the
0:41
potential deal to Axios as massive. Secretary of State Marco Rubio and Venezuela's acting
0:47
President Delcy Rodriguez have been leading the talks, which come as the U.S. looks for more oil
0:54
The strategic petroleum reserve is at its lowest level in more than four decades
0:58
falling below 300 million barrels this month as the war with Iran disrupts global supplies
1:04
Axios says Trump was discussing the idea even before he authorized the January capture of
1:10
Nicolas Maduro. There's no timeline for a final agreement, but Energy Secretary Chris Wright could travel to Venezuela as soon as next week
